Wedbush Equities Analysts Boost Earnings Estimates for Starbucks Co. (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUXGet Rating) – Investment analysts at Wedbush boosted their FY2022 earnings estimates for shares of Starbucks in a report released on Wednesday, August 3rd. Wedbush analyst N. Setyan now expects that the coffee company will post earnings of $2.96 per share for the year, up from their previous forecast of $2.89. Wedbush has a “Neutral” rating and a $86.00 price objective on the stock. The consensus estimate for Starbucks’ current full-year earnings is $2.85 per share. Wedbush also issued estimates for Starbucks’ Q2 2023 earnings at $0.73 EPS and Q4 2023 earnings at $0.98 EPS.

Several other equities analysts have also recently commented on the stock. Citigroup boosted their target price on shares of Starbucks from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. Robert W. Baird reissued a “neutral” rating and set a $83.00 target price on shares of Starbucks in a report on Thursday. Guggenheim dropped their price target on shares of Starbucks from $95.00 to $87.00 in a research report on Wednesday, April 13th. Finally, Barclays boosted their price target on shares of Starbucks from $94.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $102.92.

Starbucks Trading Down 1.3 %

Shares of NASDAQ:SBUX opened at $85.73 on Friday. The firm has a 50 day moving average of $78.88 and a 200-day moving average of $83.14. The stock has a market capitalization of $98.32 billion, a PE ratio of 24.15, a PEG ratio of 2.73 and a beta of 0.95. Starbucks has a 12 month low of $68.39 and a 12 month high of $120.76.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the business posted $1.01 earnings per share.

Starbucks Announces Dividend

The company 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 $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 2.29%. Starbucks’s payout ratio is 55.21%.

Insider Transactions at Starbucks

In other news, CEO Howard D. Schultz bought 72,500 shares of Starbucks stock in a transaction dated Thursday, May 12th. The stock was purchased at an average price of $68.85 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Howard D. Schultz purchased 72,500 shares of Starbucks stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the transaction, the chief executive officer now owns 19,606,960 shares in the company, valued at $1,349,939,196. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard D. Schultz purchased 137,500 shares of Starbucks stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PYA Waltman Capital LLC purchased a new stake in shares of Starbucks in the fourth quarter worth about $25,000. Rational Advisors LLC raised its stake in Starbucks by 141.4% in the fourth quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Guardian Wealth Management Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $25,000. Steward Financial Group LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $25,000. Finally, Delos Wealth Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $28,000. Institutional investors own 69.21% of the company’s stock.

Starbucks Company Profile

(Get Rating)

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.

See Also

Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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