Starbucks Co. (NASDAQ:SBUX - Free Report) - Research analysts at Wedbush dropped their Q3 2024 earnings per share estimates for shares of Starbucks in a research report issued on Wednesday, May 1st. Wedbush analyst N. Setyan now anticipates that the coffee company will post earnings per share of $0.94 for the quarter, down from their prior estimate of $1.15. Wedbush has a "Neutral" rating and a $92.00 price objective on the stock. The consensus estimate for Starbucks' current full-year earnings is $3.89 per share. Wedbush also issued estimates for Starbucks' Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $0.76 EPS and Q4 2025 earnings at $1.19 EPS.
A number of other equities analysts have also weighed in on SBUX. TD Cowen lowered their price objective on Starbucks from $100.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered their price target on shares of Starbucks from $94.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday. Guggenheim cut their price objective on shares of Starbucks from $100.00 to $91.00 and set a "buy" rating for the company in a research report on Friday, April 19th. UBS Group decreased their target price on shares of Starbucks from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Piper Sandler dropped their price target on shares of Starbucks from $107.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, January 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of "Hold" and an average price target of $98.38.
Get Our Latest Research Report on SBUX
Starbucks Stock Performance
Shares of SBUX stock traded down $1.82 during trading hours on Friday, reaching $73.11. The company had a trading volume of 22,115,226 shares, compared to its average volume of 9,469,554. Starbucks has a 12-month low of $72.67 and a 12-month high of $108.12. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.28 and a beta of 0.97. The stock has a fifty day moving average of $89.34 and a 200-day moving average of $93.98.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analysts' expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share.
Starbucks Dividend Announcement
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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks's payout ratio is currently 62.81%.
Insiders Place Their Bets
In other Starbucks 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 value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Starbucks
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vima LLC acquired a new position in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter valued at $27,000. Riggs Asset Managment Co. Inc. raised its stake 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 buying an additional 300 shares in the last quarter. Finally, Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.
About Starbucks
(
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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.
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