Starbucks (NASDAQ:SBUX) Downgraded by DZ Bank to “Hold”

Starbucks (NASDAQ:SBUX) was downgraded by DZ Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $75.00 target price on the coffee company’s stock. DZ Bank’s price target points to a potential upside of 2.59% from the stock’s previous close.

SBUX has been the topic of a number of other reports. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. TD Cowen cut their target price on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Wedbush dropped their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Piper Sandler reduced their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.09.

Starbucks Stock Performance

NASDAQ:SBUX opened at $73.11 on Friday. Starbucks has a 1 year low of $72.67 and a 1 year high of $108.12. The stock has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97. The stock has a 50-day simple moving average of $88.89 and a 200-day simple moving average of $93.84.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks will post 3.69 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 7,250 shares of company stock valued at $651,738 over the last quarter. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Vima LLC purchased a new stake in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Riggs Asset Managment Co. Inc. boosted its position in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Fairman Group LLC acquired a new stake in Starbucks in the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.