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.
TRADEMARK VIOLATION NOTICE: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/29/starbucks-sbux-cut-to-market-perform-at-sanford-c-bernstein.html.
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.