Starbucks Co. (NASDAQ:SBUX) to Post Q2 2024 Earnings of $0.82 Per Share, Zacks Research Forecasts

Starbucks Co. (NASDAQ:SBUX) – Equities researchers at Zacks Research dropped their Q2 2024 EPS estimates for Starbucks in a research note issued on Monday, April 8th. Zacks Research analyst H. Ray now forecasts that the coffee company will earn $0.82 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Starbucks’ current full-year earnings is $4.05 per share. Zacks Research also issued estimates for Starbucks’ Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.09 EPS and Q3 2025 earnings at $1.21 EPS.

Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Morgan Stanley upgraded shares of Starbucks from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $112.00 to $120.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. TD Cowen restated a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.29.

Starbucks Price Performance

Starbucks stock opened at $85.90 on Wednesday. Starbucks has a one year low of $85.26 and a one year high of $115.48. The business’s fifty day moving average is $92.02 and its 200 day moving average is $94.62. The stock has a market capitalization of $97.26 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company posted $0.75 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in the stock. City Holding Co. boosted its position in shares of Starbucks by 14.3% during the first quarter. City Holding Co. now owns 17,141 shares of the coffee company’s stock worth $1,566,000 after acquiring an additional 2,143 shares during the last quarter. Fort Pitt Capital Group LLC purchased a new stake in Starbucks in the 1st quarter worth $73,084,000. Compton Wealth Advisory Group LLC boosted its holdings in shares of Starbucks by 2.4% during the 1st quarter. Compton Wealth Advisory Group LLC now owns 14,589 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 346 shares during the last quarter. Cooper Financial Group grew its holdings in Starbucks by 9.0% during the 1st quarter. Cooper Financial Group now owns 7,910 shares of the coffee company’s stock valued at $723,000 after buying an additional 654 shares in the last quarter. Finally, Bright Rock Capital Management LLC bought a new stake in Starbucks in the first quarter worth $9,139,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 4,000 shares of company stock valued at $375,665. Company insiders own 1.98% of the company’s stock.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of 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.