Starbucks Co. (NASDAQ:SBUX) Expected to Earn FY2024 Earnings of $4.03 Per Share

Starbucks Co. (NASDAQ:SBUX - Free Report) - Research analysts at William Blair lowered their FY2024 earnings estimates for shares of Starbucks in a report released on Tuesday, April 16th. William Blair analyst S. Zackfia now anticipates that the coffee company will post earnings per share of $4.03 for the year, down from their previous 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.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Starbucks from a "buy" rating to a "hold" rating in a research note on Wednesday, December 20th. Barclays lowered their price target 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. Robert W. Baird cut their price objective on Starbucks from $106.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 18th. Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, April 12th. Finally, BTIG Research cut their price target on Starbucks from $125.00 to $115.00 and set a "buy" rating on the stock 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 stock. Based on data from MarketBeat, Starbucks currently has an average rating of "Hold" and an average target price of $107.43.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.94 during trading hours on Thursday, hitting $87.15. The company's stock had a trading volume of 11,400,473 shares, compared to its average volume of 8,411,019. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a fifty day simple moving average of $91.14 and a 200-day simple moving average of $94.42. The company has a market capitalization of $98.67 billion, a P/E ratio of 23.30, a PEG ratio of 1.37 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.62%. Starbucks's payout ratio is 60.96%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company's stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 7,250 shares of company stock valued at $653,183 over the last 90 days. Company insiders own 1.98% of the company's stock.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Willow Creek Wealth Management Inc. grew its stake in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company's stock worth $302,000 after buying an additional 97 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Starbucks by 0.7% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company's stock valued at $1,408,000 after acquiring an additional 100 shares in the last quarter. Valley Brook Capital Group Inc. raised its position in shares of Starbucks by 2.4% in 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. boosted 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 worth $206,000 after purchasing an additional 100 shares in the last quarter. Finally, Herold Advisors Inc. grew its position in Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company's stock valued at $221,000 after purchasing an additional 100 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

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.