Q2 2024 EPS Estimates for Starbucks Co. Cut by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Wedbush lowered their Q2 2024 earnings per share estimates for shares of Starbucks in a research report issued on Friday, April 26th. Wedbush analyst N. Setyan now forecasts that the coffee company will post earnings per share of $0.80 for the quarter, down from their previous estimate of $0.82. Wedbush currently has a “Neutral” rating and a $92.00 target price on the stock. The consensus estimate for Starbucks’ current full-year earnings is $3.99 per share. Wedbush also issued estimates for Starbucks’ FY2024 earnings at $4.04 EPS, Q2 2025 earnings at $0.91 EPS and FY2025 earnings at $4.68 EPS.

Other equities research analysts also recently issued reports about the stock. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen reaffirmed a “hold” rating and set a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Stifel Nicolaus reduced their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average target price of $106.55.

Starbucks Price Performance

NASDAQ:SBUX opened at $88.33 on Monday. Starbucks has a one year low of $84.29 and a one year high of $115.48. The company has a market cap of $100.01 billion, a PE ratio of 23.62, a PEG ratio of 1.48 and a beta of 0.98. The firm has a 50-day moving average of $90.27 and a 200-day moving average of $94.27.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $0.75 EPS. The company’s revenue was up 8.2% on a year-over-year basis.

Starbucks Announces Dividend

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 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vima LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. increased its stake in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC bought a new stake in Starbucks during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.