Q3 2024 Earnings Forecast for Starbucks Co. Issued By Wedbush (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Equities research analysts at Wedbush lowered their Q3 2024 earnings estimates for shares of Starbucks in a report released on Wednesday, May 1st. Wedbush analyst N. Setyan now anticipates that the coffee company will post earnings per share of $0.94 for the quarter, down from their prior estimate of $1.15. 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 $3.69 per share. Wedbush also issued estimates for Starbucks’ Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $0.76 EPS and Q4 2025 earnings at $1.19 EPS.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the business posted $0.74 EPS. Starbucks’s revenue was down 1.8% on a year-over-year basis.

A number of other equities research analysts have also commented on SBUX. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. UBS Group cut their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. 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 note on Monday, March 18th. 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 report on Wednesday, January 31st. Finally, Morgan Stanley reduced their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $97.09.

Starbucks Stock Down 2.4 %

Shares of NASDAQ:SBUX opened at $73.11 on Friday. Starbucks has a 12-month low of $72.67 and a 12-month high of $108.12. The business has a fifty day simple moving average of $88.89 and a 200 day simple moving average of $93.84. The firm has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97.

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. This represents a $2.28 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the company. Willow Creek Wealth Management Inc. lifted its position in Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after acquiring an additional 97 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. increased its position in shares of Starbucks by 4.6% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after purchasing an additional 100 shares in the last quarter. Herold Advisors Inc. grew its holdings in shares of Starbucks by 4.3% during the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after buying an additional 100 shares in the last quarter. Finally, Rodgers Brothers Inc. increased its holdings in shares of Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after purchasing an additional 100 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other 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.