Q2 2024 EPS Estimates for Starbucks Co. Decreased by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Research analysts at Wedbush decreased their Q2 2024 earnings estimates for shares of Starbucks in a research report issued on Friday, April 26th. Wedbush analyst N. Setyan now anticipates that the coffee company will post earnings of $0.80 per share for the quarter, down from their previous forecast of $0.82. Wedbush has a “Neutral” rating and a $92.00 price objective on the stock. The consensus estimate for Starbucks’ current full-year earnings is $3.99 per share. Wedbush also issued estimates for Starbucks’ FY2024 earnings at $4.04 EPS, Q2 2025 earnings at $0.91 EPS and FY2025 earnings at $4.68 EPS.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.13). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year.

SBUX has been the topic of a number of other research reports. Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. JPMorgan Chase & Co. cut their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Jefferies Financial Group cut their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. TD Cowen reaffirmed a “hold” rating and set a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Finally, Robert W. Baird lowered their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $106.55.

Starbucks Stock Up 0.2 %

Shares of NASDAQ:SBUX opened at $88.49 on Monday. Starbucks has a 12 month low of $84.29 and a 12 month high of $115.48. The firm has a market cap of $100.19 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.48 and a beta of 0.98. The company’s 50-day moving average price is $90.17 and its two-hundred day moving average price is $94.25.

Starbucks Dividend Announcement

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 paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’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 transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

A number of hedge funds have recently added to or reduced their stakes in SBUX. Vantage Investment Partners LLC raised its position in Starbucks by 0.9% during the 1st quarter. Vantage Investment Partners LLC now owns 131,620 shares of the coffee company’s stock worth $12,032,000 after purchasing an additional 1,154 shares during the last quarter. Hartline Investment Corp bought a new stake in Starbucks in the first quarter valued at approximately $368,000. North Star Investment Management Corp. increased its position in Starbucks by 5.3% during the 1st quarter. North Star Investment Management Corp. now owns 46,046 shares of the coffee company’s stock valued at $4,208,000 after purchasing an additional 2,337 shares during the period. Dillon & Associates Inc. lifted its position in shares of Starbucks by 6.5% in the 1st quarter. Dillon & Associates Inc. now owns 139,908 shares of the coffee company’s stock worth $12,732,000 after purchasing an additional 8,537 shares during the period. Finally, Culbertson A N & Co. Inc. boosted its stake in shares of Starbucks by 1.6% in the 1st quarter. Culbertson A N & Co. Inc. now owns 22,655 shares of the coffee company’s stock valued at $2,070,000 after purchasing an additional 360 shares during the last quarter. 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.