FY2022 EPS Estimates for Starbucks Co. Cut by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUXGet Rating) – Wedbush cut their FY2022 earnings estimates for shares of Starbucks in a research report issued on Wednesday, September 14th. Wedbush analyst N. Setyan now expects that the coffee company will post earnings per share of $2.91 for the year, down from their previous forecast of $2.96. Wedbush currently has a “Neutral” rating and a $92.00 price target on the stock. The consensus estimate for Starbucks’ current full-year earnings is $2.88 per share. Wedbush also issued estimates for Starbucks’ Q1 2023 earnings at $0.80 EPS, Q3 2023 earnings at $0.91 EPS and Q4 2023 earnings at $0.96 EPS.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company posted $1.01 earnings per share.

A number of other brokerages also recently issued reports on SBUX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Starbucks from $93.00 to $101.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler raised their price target on shares of Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Cowen raised their price target on shares of Starbucks from $94.00 to $104.00 in a report on Thursday, August 18th. UBS Group raised their price objective on shares of Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Barclays raised their price objective on shares of Starbucks from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $104.71.

Starbucks Stock Performance

NASDAQ:SBUX opened at $91.31 on Friday. The firm has a market cap of $104.77 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.89 and a beta of 0.94. Starbucks has a fifty-two week low of $68.39 and a fifty-two week high of $117.80. The firm has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $81.49.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s payout ratio is 55.21%.

Insiders Place Their Bets

In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the transaction, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Zabrina Jenkins sold 4,020 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at $3,379,341. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mellody L. Hobson bought 54,750 shares of the stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the purchase, the director now directly owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.

Institutional Trading of Starbucks

Hedge funds have recently added to or reduced their stakes in the business. Tobam bought a new position in Starbucks in the first quarter worth about $198,000. Captrust Financial Advisors raised its holdings in Starbucks by 111.8% in the first quarter. Captrust Financial Advisors now owns 305,151 shares of the coffee company’s stock worth $27,760,000 after purchasing an additional 161,090 shares in the last quarter. Essex LLC raised its holdings in Starbucks by 15.7% in the first quarter. Essex LLC now owns 46,017 shares of the coffee company’s stock worth $4,186,000 after purchasing an additional 6,233 shares in the last quarter. LGL Partners LLC raised its holdings in Starbucks by 17.0% in the first quarter. LGL Partners LLC now owns 4,627 shares of the coffee company’s stock worth $421,000 after purchasing an additional 672 shares in the last quarter. Finally, Smith Moore & CO. raised its holdings in Starbucks by 30.6% in the first quarter. Smith Moore & CO. now owns 4,911 shares of the coffee company’s stock worth $447,000 after purchasing an additional 1,151 shares in the last quarter. 67.97% of the stock is owned by hedge funds and other institutional investors.

About Starbucks

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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.

Further Reading

Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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