Starbucks Co. (NASDAQ:SBUX – Get Rating) – Equities researchers at Wedbush lowered their Q3 2022 earnings per share estimates for shares of Starbucks in a research report issued on Wednesday, May 4th. Wedbush analyst N. Setyan now forecasts that the coffee company will post earnings of $0.87 per share for the quarter, down from their prior estimate of $1.03. Wedbush currently has a “Neutral” rating and a $91.00 price target on the stock. Wedbush also issued estimates for Starbucks’ Q4 2022 earnings at $0.95 EPS, FY2022 earnings at $3.13 EPS, Q1 2023 earnings at $0.75 EPS, Q2 2023 earnings at $0.70 EPS and FY2023 earnings at $3.64 EPS.
Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Starbucks had a negative return on equity of 56.17% and a net margin of 14.47%. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year.
Shares of SBUX opened at $81.64 on Thursday. Starbucks has a one year low of $73.38 and a one year high of $126.32. The stock has a 50-day moving average price of $84.19 and a 200 day moving average price of $99.10. The company has a market capitalization of $93.91 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.95 and a beta of 0.97.
A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. BlackRock Inc. increased its stake in Starbucks by 10.3% during the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after buying an additional 7,672,037 shares during the period. State Street Corp boosted its holdings in shares of Starbucks by 3.5% in the fourth quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock valued at $5,672,559,000 after acquiring an additional 1,649,721 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Starbucks by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company’s stock valued at $2,385,035,000 after acquiring an additional 331,190 shares during the period. Morgan Stanley raised its holdings in Starbucks by 3.1% during the second quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock worth $1,455,407,000 after purchasing an additional 396,104 shares in the last quarter. Finally, Fundsmith LLP lifted its position in Starbucks by 7.7% in the fourth quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock worth $1,354,132,000 after purchasing an additional 831,723 shares during the period. Hedge funds and other institutional investors own 69.21% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, May 12th. Starbucks’s dividend payout ratio (DPR) is 52.55%.
About Starbucks (Get Rating)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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