Starbucks (NASDAQ:SBUX) Releases Q4 Earnings Guidance

Starbucks (NASDAQ:SBUX) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.80 for the period, compared to the consensus estimate of $1.03. The company issued revenue guidance of $9.1 billion, compared to the consensus revenue estimate of $9.37 billion. Starbucks also updated its FY 2024 guidance to 3.310-3.310 EPS.

Starbucks Stock Performance

SBUX opened at $97.15 on Friday. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $110.09 billion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. The business’s 50-day simple moving average is $95.38 and its 200 day simple moving average is $84.89.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Starbucks will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

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

Analyst Ratings Changes

SBUX has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value 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. Company insiders own 1.98% 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.