TheStreet Lowers Starbucks (NASDAQ:SBUX) to C+

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

Several other brokerages also recently issued reports on SBUX. Oppenheimer downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Friday, January 7th. Citigroup downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $120.00 to $91.00 in a research note on Monday, April 11th. Guggenheim lowered their price objective on shares of Starbucks from $95.00 to $87.00 in a research note on Wednesday, April 13th. The Goldman Sachs Group downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $112.00 to $106.00 in a research note on Wednesday, February 2nd. Finally, UBS Group lowered their price objective on shares of Starbucks from $105.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.58.

Shares of SBUX stock opened at $77.98 on Friday. Starbucks has a 12 month low of $76.73 and a 12 month high of $126.32. The business’s 50 day moving average is $86.50 and its two-hundred day moving average is $100.66. The company has a market cap of $89.70 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings results on Tuesday, February 1st. The coffee company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.08). Starbucks had a net margin of 14.47% and a negative return on equity of 56.17%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, sell-side analysts expect that Starbucks will post 3.28 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Beese Fulmer Investment Management Inc. lifted its stake in Starbucks by 5.2% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 2,003 shares of the coffee company’s stock valued at $234,000 after buying an additional 99 shares during the period. Bellwether Advisors LLC lifted its stake in Starbucks by 10.7% in the third quarter. Bellwether Advisors LLC now owns 1,082 shares of the coffee company’s stock valued at $119,000 after buying an additional 105 shares during the period. Zhang Financial LLC lifted its stake in Starbucks by 1.7% in the fourth quarter. Zhang Financial LLC now owns 6,404 shares of the coffee company’s stock valued at $749,000 after buying an additional 106 shares during the period. Interchange Capital Partners LLC lifted its stake in Starbucks by 0.9% in the third quarter. Interchange Capital Partners LLC now owns 11,575 shares of the coffee company’s stock valued at $1,276,000 after buying an additional 108 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC lifted its stake in Starbucks by 2.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 4,317 shares of the coffee company’s stock valued at $505,000 after buying an additional 109 shares during the period. 69.74% of the stock is currently owned by institutional investors and hedge funds.

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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