Published: Thu, October 20, 2016
Economy | By Melissa Porter

Starbucks plans to double stores in China in 5 years

Starbucks plans to double stores in China in 5 years

According to Zacks, "Starbucks is strengthening its portfolio with significant innovation around beverages and core food offerings". However, the third quarter headwinds were temporary and Starbucks expects USA comps to improve in the next quarter. She will continue to report to John Culver, group president, Starbucks Global Retail. Again, digital initiatives like mobile order/pay, delivery services and third-party loyalty partnerships can stimulate stronger sales trends in the Americas.

Other hedge funds have also recently modified their holdings of the company. The consensus recommendation by Thomson Reuters Analysts is Outperform for SBUX and their mean rating for the stock is 1.68 on scale of 1-5. In a research note issued on September 21, 2016, analysts at Longbow issued its first rating on the stock at Buy. The firm lowered its rating on SBUX from Buy to Hold.

Shares of Starbucks Corp. Starbucks Corporation (NASDAQ:SBUX) has declined 11.83% since March 16, 2016 and is downtrending. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -1.79% where SMA50 and SMA200 are -3.88% and -6.93% respectively. The stock has a market cap of $45.40 billion, a P/E ratio of 25.55 and a beta of 1.28.

Many Wall Street Analysts have commented on Starbucks Corporation.

On September 28, 2016 Starbucks Corporation (SBUX) opened its first store in Englewood in the South Side of Chicago at 63rd and Halsted. (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 21st. If we dig further into historical earnings data, the March 2016 quarter the company recorded a net $4.99B revenue with earnings per share of $0.39.

In case of Revenue Estimates, 23 analysts have provided their consensus Average Revenue Estimates for Starbucks Corporation as 5.68 Billion.

Starbucks yesterday appointed Belinda Wong as CEO of Starbucks China.

Ullman Myron E Iii offloaded 12,654 shares in the company at a per-share price of $58.7 and ended up generating $742,790 in proceeds. Following the sale, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The company's institutional ownership is monitored at 70.3 percent. Mckinley Capital Management LLC Delaware now owns 201,422 shares of the coffee company's stock valued at $12,025,000 after buying an additional 87,228 shares in the last quarter. Financial Architects Inc boosted its stake in shares of FedEx 56.2% in the second quarter. Landscape Capital Management L.L.C. now owns 14,835 shares of the coffee company's stock valued at $886,000 after buying an additional 3,840 shares in the last quarter. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world.

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