Starbucks (SBUX) Cut to Market Perform at Sanford C. Bernstein

Starbucks (NASDAQ:SBUX) was downgraded by equities research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat Ratings reports.

Other equities research analysts have also issued reports about the company. Vetr raised Starbucks from a “hold” rating to a “buy” rating and set a $62.03 price target on the stock in a research report on Monday. Credit Suisse Group dropped their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. BMO Capital Markets upped their price target on Starbucks to $58.00 and gave the company a “market perform” rating in a research report on Friday. Deutsche Bank reissued a “buy” rating and set a $63.00 price target on shares of Starbucks in a research report on Friday. Finally, OTR Global raised Starbucks to a “positive” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $64.29.

Shares of Starbucks (SBUX) traded down $0.97 on Monday, hitting $57.02. The company’s stock had a trading volume of 18,890,205 shares, compared to its average volume of 9,780,000. Starbucks has a one year low of $52.58 and a one year high of $64.87. The firm has a market cap of $81,130.00, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.65% and a net margin of 19.28%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. analysts anticipate that Starbucks will post 2.5 earnings per share for the current year.

In other news, Director Craig Weatherup sold 56,666 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the transaction, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in SBUX. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Starbucks by 11.2% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,591 shares of the coffee company’s stock worth $1,259,000 after purchasing an additional 2,179 shares in the last quarter. Vigilant Capital Management LLC grew its stake in shares of Starbucks by 0.5% in the second quarter. Vigilant Capital Management LLC now owns 143,285 shares of the coffee company’s stock worth $8,355,000 after purchasing an additional 745 shares in the last quarter. Winslow Evans & Crocker Inc. grew its stake in shares of Starbucks by 54.5% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,799 shares of the coffee company’s stock worth $280,000 after purchasing an additional 1,693 shares in the last quarter. Markel Corp grew its stake in shares of Starbucks by 50.0% in the second quarter. Markel Corp now owns 39,000 shares of the coffee company’s stock worth $2,274,000 after purchasing an additional 13,000 shares in the last quarter. Finally, IPG Investment Advisors LLC grew its stake in shares of Starbucks by 115.1% in the second quarter. IPG Investment Advisors LLC now owns 19,138 shares of the coffee company’s stock worth $1,116,000 after purchasing an additional 10,240 shares in the last quarter. 70.89% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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