FY2024 Earnings Estimate for Starbucks Co. (NASDAQ:SBUX) Issued By William Blair

Starbucks Co. (NASDAQ:SBUX) – Equities researchers at William Blair lowered their FY2024 EPS estimates for Starbucks in a research note issued to investors on Tuesday, April 16th. William Blair analyst S. Zackfia now forecasts that the coffee company will earn $4.03 per share for the year, down from their prior 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.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company posted $0.75 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year.

Several other equities analysts also recently commented on SBUX. Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen reissued a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Citigroup lowered their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. BMO Capital Markets lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Finally, Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.43.

Starbucks Price Performance

Starbucks stock opened at $86.21 on Thursday. The company has a market capitalization of $97.61 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. Starbucks has a one year low of $84.29 and a one year high of $115.48. The company’s fifty day moving average price is $91.33 and its two-hundred day moving average price is $94.47.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SBUX. Vima LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in shares of 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 purchasing an additional 300 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,250 shares of company stock worth $653,183 over the last quarter. Company insiders own 1.98% of the company’s stock.

Starbucks Announces Dividend

The firm also recently declared 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

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.