Starbucks (NASDAQ:SBUX) Downgraded to “Hold” at StockNews.com

Starbucks (NASDAQ:SBUXGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts have also recently issued research reports about the company. UBS Group upped their target price on Starbucks from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Robert W. Baird increased their price objective on Starbucks from $86.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Wedbush increased their price objective on Starbucks from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective on Starbucks from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 14th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.04.

Starbucks Price Performance

Shares of SBUX stock opened at $97.38 on Friday. The company has a market cap of $111.73 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87. The stock’s 50 day simple moving average is $88.05 and its two-hundred day simple moving average is $82.28. Starbucks has a 1 year low of $68.39 and a 1 year high of $117.80.

Insider Activity

In other news, EVP Zabrina Jenkins sold 4,020 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the sale, the executive vice president now directly owns 36,337 shares in the company, valued at approximately $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mellody L. Hobson acquired 54,750 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the acquisition, the director now owns 433,254 shares in the company, valued at approximately $40,110,655.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the completion of the sale, the executive vice president now owns 36,337 shares in the company, valued at $3,379,341. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SBUX. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $25,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Starbucks during the 3rd quarter valued at approximately $27,000. Castle Wealth Management LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $28,000. Herold Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter valued at approximately $29,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $32,000. 67.97% of the stock is owned by hedge funds and other institutional investors.

Starbucks Company Profile

(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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