FY2024 Earnings Estimate for Starbucks Co. (NASDAQ:SBUX) Issued By William Blair

Starbucks Co. (NASDAQ:SBUX) – William Blair decreased their FY2024 earnings per share (EPS) estimates for shares of Starbucks in a research note issued to investors on Tuesday, April 16th. William Blair analyst S. Zackfia now forecasts that the coffee company will earn $4.03 per share for the year, down from their prior forecast of $4.07. The consensus estimate for Starbucks’ current full-year earnings is $4.03 per share. William Blair also issued estimates for Starbucks’ Q4 2024 earnings at $1.21 EPS and FY2025 earnings at $4.68 EPS.

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

Several other analysts also recently commented on the company. Morgan Stanley reduced their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Robert W. Baird reduced their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Wedbush reissued a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Barclays cut their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.43.

Starbucks Stock Up 1.1 %

SBUX opened at $87.15 on Thursday. The business has a 50 day moving average price of $91.14 and a two-hundred day moving average price of $94.42. The company has a market cap of $98.67 billion, a PE ratio of 23.30, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the business. Quilter Plc acquired a new stake in shares of Starbucks during the first quarter worth $208,530,000. Freedom Wealth Alliance LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on 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 owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is owned by insiders.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Starbucks Company Profile

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.