Analysts Issue Forecasts for Starbucks Co.'s Q3 2024 Earnings (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX - Free Report) - Stock analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for shares of Starbucks in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst H. Ray now forecasts that the coffee company will post earnings of $0.97 per share for the quarter, down from their previous forecast of $1.15. The consensus estimate for Starbucks' current full-year earnings is $3.63 per share. Zacks Research also issued estimates for Starbucks' Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $3.63 EPS, Q2 2025 earnings at $0.81 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $4.03 EPS, Q1 2026 earnings at $1.09 EPS, Q2 2026 earnings at $0.98 EPS and FY2026 earnings at $4.60 EPS.

Several other brokerages have also recently weighed in on SBUX. Stifel Nicolaus dropped their price objective on Starbucks from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, May 1st. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 31st. TD Cowen cut their target price on Starbucks from $100.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, May 1st. Barclays cut their target price on Starbucks from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 31st. Finally, Stephens restated an "equal weight" rating and set a $110.00 target price on shares of Starbucks in a research report 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $96.43.

Starbucks Trading Down 3.0 %

NASDAQ SBUX traded down $2.41 during midday trading on Thursday, hitting $78.31. The company had a trading volume of 15,836,647 shares, compared to its average volume of 10,277,413. The company has a market capitalization of $88.70 billion, a PE ratio of 21.57, a P/E/G ratio of 1.68 and a beta of 0.97. The firm has a 50-day moving average price of $84.31 and a 200-day moving average price of $92.05. Starbucks has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the company. Orca Investment Management LLC boosted its holdings in shares of Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company's stock worth $719,000 after acquiring an additional 466 shares during the period. Cerity Partners LLC boosted its stake in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company's stock valued at $148,567,000 after buying an additional 1,281,471 shares during the period. Metis Global Partners LLC boosted its stake in Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company's stock valued at $5,197,000 after buying an additional 7,619 shares during the period. Summa Corp. bought a new stake in Starbucks during the fourth quarter valued at $384,000. Finally, FFT Wealth Management LLC bought a new stake in Starbucks during the fourth quarter valued at $209,000. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was 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 of the company's stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 4,000 shares of company stock valued at $342,050. Company insiders own 1.98% of the company's stock.

Starbucks Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks's dividend payout ratio (DPR) is 62.81%.

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.