Starbucks (NASDAQ:SBUX) Downgraded by TheStreet

Starbucks (NASDAQ:SBUXGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Friday, TheStreetRatingsTable reports.

A number of other research analysts have also commented on the company. Morgan Stanley decreased their price objective on Starbucks from $107.00 to $94.00 and set an “equal weight” rating on the stock in a report on Thursday, April 14th. MKM Partners decreased their price objective on Starbucks from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. StockNews.com assumed coverage on Starbucks in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lowered Starbucks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $120.00 to $91.00 in a report on Monday, April 11th. Finally, UBS Group reduced their target price on Starbucks from $105.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.58.

SBUX stock opened at $77.98 on Friday. The firm has a market capitalization of $89.70 billion, a PE ratio of 21.02, a PEG ratio of 1.99 and a beta of 0.90. Starbucks has a 1-year low of $76.73 and a 1-year high of $126.32. The business’s 50 day simple moving average is $86.50 and its 200 day simple moving average is $100.66.

Starbucks (NASDAQ:SBUXGet Rating) last posted its earnings results on Tuesday, February 1st. The coffee company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.95 billion. Starbucks had a negative return on equity of 56.17% and a net margin of 14.47%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts predict that Starbucks will post 3.28 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of SBUX. Morgan Stanley raised its position in Starbucks by 3.1% in the second quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock valued at $1,455,407,000 after purchasing an additional 396,104 shares during the last quarter. US Asset Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at about $42,000. Brookstone Capital Management increased its stake in shares of Starbucks by 13.2% in the third quarter. Brookstone Capital Management now owns 20,013 shares of the coffee company’s stock valued at $2,217,000 after buying an additional 2,331 shares during the period. Van ECK Associates Corp increased its stake in shares of Starbucks by 32.9% in the third quarter. Van ECK Associates Corp now owns 34,923 shares of the coffee company’s stock valued at $3,852,000 after buying an additional 8,648 shares during the period. Finally, New World Advisors LLC acquired a new stake in shares of Starbucks in the third quarter valued at about $225,000. Hedge funds and other institutional investors own 69.74% of the company’s stock.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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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