Q3 2024 EPS Estimates for Starbucks Co. Cut by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Equities research analysts at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Starbucks in a note issued to investors on Tuesday, April 16th. William Blair analyst S. Zackfia now anticipates that the coffee company will post earnings per share of $1.11 for the quarter, down from their previous forecast of $1.15. The consensus estimate for Starbucks’ current full-year earnings is $4.03 per share.

SBUX has been the topic of several other research reports. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Morgan Stanley dropped their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Jefferies Financial Group dropped their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Stifel Nicolaus dropped their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Finally, BTIG Research dropped their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $107.43.

Starbucks Stock Up 1.1 %

Shares of NASDAQ:SBUX opened at $87.15 on Friday. The stock has a market cap of $98.67 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.39 and a beta of 0.97. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48. The business’s 50 day moving average is $91.14 and its 200 day moving average is $94.42.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently made changes to their positions in the stock. Quilter Plc purchased a new position in Starbucks during the first quarter worth about $208,530,000. Freedom Wealth Alliance LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Vima LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Finally, DSM Capital Partners LLC purchased a new position in Starbucks during the fourth quarter worth about $27,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value 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 is available through the SEC website. Over the last three months, insiders sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is owned by corporate insiders.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.