Starbucks (SBUX) Downgraded by Vetr
Vetr cut shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research note released on Monday morning. The brokerage currently has $61.72 price objective on the coffee company’s stock.
SBUX has been the topic of a number of other research reports. UBS Group cut their price target on shares of Starbucks from $67.00 to $64.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the stock a buy rating in a research report on Wednesday, November 1st. Morgan Stanley increased their price objective on shares of Starbucks from $62.00 to $67.00 and gave the stock an overweight rating in a research report on Friday, November 10th. Deutsche Bank cut their price objective on shares of Starbucks to $62.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Starbucks from a hold rating to a sell rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $63.23.
Shares of Starbucks (SBUX) traded down $0.07 on Monday, reaching $59.24. 3,857,090 shares of the company’s stock were exchanged, compared to its average volume of 6,570,680. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $84,310.00, a PE ratio of 30.07, a P/E/G ratio of 1.61 and a beta of 0.76. Starbucks has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. research analysts forecast that Starbucks will post 2.34 EPS for the current fiscal year.
In related news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobi Capital Management LLC increased its stake in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares during the last quarter. IHT Wealth Management LLC increased its stake in Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Starbucks in the 3rd quarter valued at about $111,000. Valley National Advisers Inc. increased its stake in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Starbucks in the 2nd quarter valued at about $128,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.
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Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
To view Vetr’s full report, visit Vetr’s official website.
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