Q4 2024 Earnings Forecast for Starbucks Co. (NASDAQ:SBUX) Issued By William Blair

Starbucks Co. (NASDAQ:SBUX) – Research analysts at William Blair boosted their Q4 2024 earnings per share (EPS) estimates for shares of Starbucks in a research note issued to investors on Wednesday, July 31st. William Blair analyst S. Zackfia now expects that the coffee company will post earnings of $1.08 per share for the quarter, up from their prior forecast of $1.06. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Starbucks’ current full-year earnings is $3.54 per share.

A number of other equities analysts also recently issued reports on the stock. BTIG Research decreased their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. HSBC cut their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Evercore ISI cut shares of Starbucks from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $92.00 to $80.00 in a report on Tuesday, July 16th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Jefferies Financial Group dropped their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.88.

Starbucks Stock Performance

Starbucks stock opened at $75.88 on Thursday. The stock has a market cap of $85.99 billion, a P/E ratio of 20.90, a PEG ratio of 1.78 and a beta of 0.94. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s fifty day moving average price is $77.62 and its 200-day moving average price is $84.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 48.78% and a net margin of 11.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock valued at $579,375 in the last ninety days. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several institutional investors have recently modified their holdings of the stock. Mattern Capital Management LLC grew its position in shares of Starbucks by 2.0% in the second quarter. Mattern Capital Management LLC now owns 104,355 shares of the coffee company’s stock valued at $8,124,000 after purchasing an additional 2,094 shares during the period. Stablepoint Partners LLC grew its position in shares of Starbucks by 15.6% in the second quarter. Stablepoint Partners LLC now owns 29,662 shares of the coffee company’s stock valued at $2,231,000 after purchasing an additional 4,010 shares during the period. GPM Growth Investors Inc. acquired a new stake in shares of Starbucks in the second quarter valued at about $754,000. Gries Financial LLC purchased a new position in shares of Starbucks in the second quarter worth about $1,825,000. Finally, Belpointe Asset Management LLC lifted its stake in shares of Starbucks by 204.9% in the second quarter. Belpointe Asset Management LLC now owns 40,171 shares of the coffee company’s stock worth $3,127,000 after buying an additional 26,997 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.