FY2024 EPS Estimates for Starbucks Co. Reduced by William Blair (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Investment analysts at William Blair lowered their FY2024 earnings estimates for shares of Starbucks in a research report issued 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 estimate 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 research analysts have also recently issued reports about the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a report on Monday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday. Finally, Piper Sandler lowered their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.68.

Starbucks Stock Up 0.5 %

Starbucks stock opened at $87.61 on Thursday. The stock has a market cap of $99.19 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48. The company’s 50-day moving average price is $90.94 and its two-hundred day moving average price is $94.39.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter 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 given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,250 shares of company stock worth $653,183 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of hedge funds have recently added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in Starbucks in the fourth quarter valued at approximately $1,240,652,000. Moneta Group Investment Advisors LLC boosted its position in Starbucks by 115,334.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley boosted its position in Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Flossbach Von Storch AG boosted its position in Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after buying an additional 2,684,470 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Starbucks during the first quarter worth $190,270,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.