FY2024 EPS Estimates for Starbucks Co. Lowered by Wedbush (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Equities researchers at Wedbush cut their FY2024 earnings per share (EPS) estimates for shares of Starbucks in a research note issued to investors on Wednesday, May 1st. Wedbush analyst N. Setyan now forecasts that the coffee company will post earnings of $3.60 per share for the year, down from their previous forecast of $4.04. 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 $3.63 per share. Wedbush also issued estimates for Starbucks’ Q3 2025 earnings at $1.04 EPS and FY2025 earnings at $4.01 EPS.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share.

Several other equities analysts also recently weighed in on SBUX. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and dropped their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Barclays decreased their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.09.

Starbucks Trading Down 2.4 %

Shares of NASDAQ:SBUX opened at $73.11 on Monday. The business has a 50-day moving average price of $88.89 and a 200 day moving average price of $93.84. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.36 and a beta of 0.97. Starbucks has a 12-month low of $72.67 and a 12-month high of $108.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Scarborough Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at $26,000. Vima LLC acquired a new stake in Starbucks in the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC acquired a new stake in Starbucks in the fourth quarter valued at $30,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is currently 62.81%.

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.