Starbucks (SBUX) Down 11% in a Year: Can It Revive in 2024?

Shares of Starbucks Corporation (SBUX) have declined 10.7% in the past year against the industry’s 7.7% growth. The company’s performance is likely to have been hurt by ongoing inflationary pressure. Its ingredients are witnessing a price hike in the last few quarters.However, the Zacks Rank #3 (Hold) company’s sales and earnings in fiscal 2024 are likely to witness a gain of 10% and 17%, respectively. In the past 60 days, earnings estimates for fiscal 2024 have witnessed an upward revision of 0.7% to $4.14 ...