Starbucks Co. (NASDAQ:SBUX – Get Rating) – Investment analysts at William Blair lifted their FY2022 earnings per share (EPS) estimates for shares of Starbucks in a note issued to investors on Wednesday, August 3rd. William Blair analyst S. Zackfia now expects that the coffee company will post earnings of $2.94 per share for the year, up from their previous forecast of $2.84. The consensus estimate for Starbucks’ current full-year earnings is $2.85 per share. William Blair also issued estimates for Starbucks’ Q1 2023 earnings at $0.76 EPS, Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.93 EPS and Q4 2023 earnings at $0.95 EPS.
Starbucks (NASDAQ:SBUX – Get Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the business posted $1.01 earnings per share.
Starbucks Stock Performance
NASDAQ:SBUX opened at $85.73 on Friday. The stock has a 50-day simple moving average of $78.88 and a 200-day simple moving average of $83.14. The stock has a market cap of $98.32 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95. Starbucks has a 1 year low of $68.39 and a 1 year high of $120.76.
Hedge Funds Weigh In On Starbucks
Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter valued at about $1,189,240,000. BlackRock Inc. increased its stake in Starbucks by 10.3% in the fourth quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after acquiring an additional 7,672,037 shares during the period. Vanguard Group Inc. increased its stake in Starbucks by 2.8% in the first quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock valued at $9,225,691,000 after acquiring an additional 2,733,608 shares during the period. Capital Research Global Investors increased its stake in Starbucks by 28.0% in the first quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock valued at $995,996,000 after acquiring an additional 2,395,500 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Starbucks in the first quarter valued at about $190,270,000. 69.21% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Starbucks news, CEO Howard D. Schultz purchased 72,500 shares of Starbucks stock in a transaction on Thursday, May 12th. The shares were bought at an average price of $68.85 per share, with a total value of $4,991,625.00. Following the purchase, the chief executive officer now directly owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Howard D. Schultz purchased 137,500 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard D. Schultz bought 72,500 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the acquisition, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is 55.21%.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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