Starbucks (NASDAQ:SBUX – Get Free Report)‘s stock had its “hold” rating reaffirmed by analysts at TD Securities in a report issued on Monday,Benzinga reports. They currently have a $90.00 price target on the coffee company’s stock. TD Securities’ target price indicates a potential downside of 1.64% from the company’s previous close.
Several other brokerages have also recently issued reports on SBUX. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. UBS Group reduced their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. Citigroup raised their price objective on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, June 12th. Finally, Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $98.36.
Get Our Latest Analysis on SBUX
Starbucks Trading Down 0.9%
Starbucks (NASDAQ:SBUX – Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. As a group, equities analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Starbucks
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after acquiring an additional 953,361 shares in the last quarter. Capital World Investors raised its position in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC increased its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after buying an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after buying an additional 3,545,655 shares during the period. 72.29% of the stock is currently owned by institutional investors.
Starbucks Company Profile
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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