Starbucks FY2024 EPS Forecast Reduced by Zacks Research

Starbucks Co. (NASDAQ:SBUX) – Equities researchers at Zacks Research reduced their FY2024 earnings per share estimates for shares of Starbucks in a research note issued on Friday, October 25th. Zacks Research analyst H. Ray now expects that the coffee company will earn $3.31 per share for the year, down from their prior forecast of $3.58. The consensus estimate for Starbucks’ current full-year earnings is $3.34 per share. Zacks Research also issued estimates for Starbucks’ Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.92 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $3.56 EPS, Q1 2026 earnings at $0.95 EPS, Q2 2026 earnings at $0.80 EPS, Q3 2026 earnings at $1.02 EPS and Q4 2026 earnings at $1.09 EPS.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.

Several other research firms have also issued reports on SBUX. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Citigroup reduced their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Stifel Nicolaus reduced their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Stock Performance

SBUX opened at $97.39 on Monday. The firm has a market cap of $110.36 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.59 and a beta of 0.97. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66. The business’s fifty day moving average is $95.68 and its 200-day moving average is $85.20.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is currently 63.87%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

A number of institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth approximately $1,343,000. Robeco Institutional Asset Management B.V. grew its holdings in Starbucks by 6.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock worth $4,431,000 after purchasing an additional 2,590 shares during the period. Opes Wealth Management LLC acquired a new stake in Starbucks in the third quarter worth $203,000. First National Bank Sioux Falls increased its stake in Starbucks by 11.3% in the third quarter. First National Bank Sioux Falls now owns 6,292 shares of the coffee company’s stock valued at $613,000 after purchasing an additional 637 shares in the last quarter. Finally, Nvwm LLC raised its holdings in shares of Starbucks by 1.6% during the third quarter. Nvwm LLC now owns 29,410 shares of the coffee company’s stock valued at $2,867,000 after purchasing an additional 474 shares during the period. Institutional investors 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.