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

Starbucks Co. (NASDAQ:SBUX) – Wedbush cut their FY2024 earnings per share (EPS) estimates for shares of Starbucks in a research note issued to investors on Wednesday, May 1st. Wedbush analyst N. Setyan now forecasts that the coffee company will post earnings per share of $3.60 for the year, down from their previous estimate of $4.04. Wedbush currently has a “Neutral” rating and a $92.00 target price 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.

A number of other equities analysts have also commented on the company. BMO Capital Markets reduced their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. BTIG Research reduced their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler reduced their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Citigroup reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.43.

Starbucks Price Performance

Shares of SBUX stock opened at $72.50 on Monday. The firm has a market cap of $82.12 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.58 and a beta of 0.97. The stock’s fifty day simple moving average is $88.03 and its 200 day simple moving average is $93.53. Starbucks has a one year low of $71.80 and a one year high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS.

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 paid 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 3.14%. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction 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 $651,738 over the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SBUX. Norges Bank bought a new position in shares of Starbucks during the 4th quarter worth approximately $1,240,652,000. Flossbach Von Storch AG lifted its holdings in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after purchasing an additional 2,071,378 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after purchasing an additional 1,672,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after purchasing an additional 1,656,591 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.