Starbucks Co. (NASDAQ:SBUX) Expected to Earn FY2024 Earnings of $3.60 Per Share

Starbucks Co. (NASDAQ:SBUX) – Equities researchers at Wedbush reduced their FY2024 earnings estimates for shares of Starbucks in a research report issued 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 estimate of $4.04. Wedbush currently has a “Neutral” rating and a $92.00 price target 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 announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the firm earned $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis.

SBUX has been the subject of a number of other reports. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. BMO Capital Markets decreased their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. UBS Group dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley cut their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and cut their price target for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $96.43.

Starbucks Trading Down 0.3 %

Shares of Starbucks stock opened at $72.90 on Monday. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12. The firm has a fifty day simple moving average of $88.46 and a 200-day simple moving average of $93.69. The stock has a market capitalization of $82.57 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.58 and a beta of 0.97.

Starbucks Announces Dividend

The business also recently declared 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. This represents a $2.28 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 over the last three months. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently made changes to their positions in the business. Metis Global Partners LLC grew its holdings in shares of Starbucks by 0.5% during the first quarter. Metis Global Partners LLC now owns 53,584 shares of the coffee company’s stock worth $4,897,000 after purchasing an additional 246 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Starbucks by 306.2% during the first quarter. Empowered Funds LLC now owns 59,019 shares of the coffee company’s stock worth $5,394,000 after purchasing an additional 44,491 shares during the last quarter. AIA Group Ltd grew its holdings in shares of Starbucks by 9.6% during the first quarter. AIA Group Ltd now owns 37,639 shares of the coffee company’s stock worth $3,440,000 after purchasing an additional 3,305 shares during the last quarter. Sciencast Management LP grew its holdings in shares of Starbucks by 82.8% during the first quarter. Sciencast Management LP now owns 18,154 shares of the coffee company’s stock worth $1,659,000 after purchasing an additional 8,221 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Starbucks by 6.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 174,278 shares of the coffee company’s stock worth $15,927,000 after purchasing an additional 10,097 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

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.