Starbucks (NASDAQ:SBUX) Upgraded at StockNews.com

Starbucks (NASDAQ:SBUX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research analysts also recently issued reports on SBUX. Royal Bank of Canada dropped their price objective on Starbucks from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Citigroup dropped their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. TD Securities dropped their price target on Starbucks from $102.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $98.72.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $80.30 on Friday. The company has a market capitalization of $91.25 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.59 and a beta of 0.99. The business’s 50-day moving average is $90.00 and its 200-day moving average is $96.88. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. Analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently modified their holdings of the business. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Starbucks during the fourth quarter valued at $27,000. 72.29% of the stock is owned by institutional investors.

About Starbucks

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.