Starbucks (NASDAQ:SBUX) Stock Rating Lowered by StockNews.com
Starbucks (NASDAQ:SBUX – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other equities analysts have also recently issued research reports about the company. UBS Group cut their price target on Starbucks from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Morgan Stanley decreased their price target on shares of Starbucks from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Wedbush boosted their price target on shares of Starbucks from $100.00 to $106.00 and gave the company a “neutral” rating in a report on Monday, November 6th. TD Cowen downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $117.00 to $107.00 in a report on Tuesday, September 19th. Finally, Barclays lowered their target price on shares of Starbucks from $123.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.18.
Check Out Our Latest Analysis on SBUX
Starbucks Stock Performance
Shares of SBUX traded down $3.01 during mid-day trading on Wednesday, hitting $94.71. The company’s stock had a trading volume of 10,046,396 shares, compared to its average volume of 6,588,583. The stock’s 50-day moving average is $98.54 and its two-hundred day moving average is $98.15. The firm has a market capitalization of $107.66 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97. Starbucks has a one year low of $89.21 and a one year high of $115.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Analysts expect that Starbucks will post 4.14 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Michael Aaron Conway sold 6,500 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the transaction, the insider now owns 72,822 shares of the company’s stock, valued at $7,629,560.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Rachel Ruggeri sold 504 shares of Starbucks stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total transaction of $53,252.64. Following the completion of the sale, the chief financial officer now directly owns 75,027 shares of the company’s stock, valued at $7,927,352.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Aaron Conway sold 6,500 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total value of $681,005.00. Following the transaction, the insider now owns 72,822 shares of the company’s stock, valued at $7,629,560.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,254 shares of company stock valued at $760,370. 1.98% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Starbucks
Several large investors have recently bought and sold shares of the company. Freedom Wealth Alliance LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Moser Wealth Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at approximately $30,000. WFA of San Diego LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $30,000. Finally, Solstein Capital LLC raised its holdings in Starbucks by 67.4% during the 2nd quarter. Solstein Capital LLC now owns 318 shares of the coffee company’s stock worth $32,000 after buying an additional 128 shares during the period. Institutional investors own 70.13% of the company’s stock.
Starbucks Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: Starbucks (NASDAQ:SBUX) Stock Rating Lowered by StockNews.com