Starbucks Co. (NASDAQ:SBUX) Forecasted to Post Q3 2024 Earnings of $1.11 Per Share

Starbucks Co. (NASDAQ:SBUX) – William Blair reduced their Q3 2024 earnings estimates for Starbucks in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst S. Zackfia now expects that the coffee company will earn $1.11 per share for the quarter, down from their previous forecast of $1.15. The consensus estimate for Starbucks’ current full-year earnings is $4.03 per share.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus dropped their price target on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Guggenheim decreased their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday. Barclays decreased their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Piper Sandler decreased their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, Citigroup decreased their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $106.68.

Starbucks Trading Up 0.5 %

Shares of NASDAQ:SBUX opened at $87.61 on Friday. The firm’s 50 day moving average is $90.94 and its two-hundred day moving average is $94.39. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48. The firm has a market capitalization of $99.19 billion, a P/E ratio of 23.43, a PEG ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 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 firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year.

Institutional Investors Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Willow Creek Wealth Management Inc. increased its stake in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in shares of Starbucks by 0.7% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock worth $1,408,000 after purchasing an additional 100 shares during the last quarter. Valley Brook Capital Group Inc. increased its stake in shares of Starbucks by 2.4% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after purchasing an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its stake in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares during the last quarter. Finally, Herold Advisors Inc. grew its stake in Starbucks by 4.3% in the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is owned by corporate insiders.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. 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.