Mizuho Upgrades Starbucks (NASDAQ:SBUX) to Hold

Starbucks (NASDAQ:SBUX) was upgraded by investment analysts at Mizuho to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. CICC Research started coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Finally, Guggenheim upped their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $84.17 on Tuesday. The business’s 50 day moving average price is $84.68 and its 200-day moving average price is $87.50. Starbucks has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market cap of $95.68 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 4.34 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. Sell-side analysts predict that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the second quarter worth about $25,000. Transce3nd LLC boosted its stake in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after buying an additional 200 shares during the period. Chelsea Counsel Co. purchased a new position in Starbucks during the second quarter worth about $26,000. Hughes Financial Services LLC purchased a new position in Starbucks during the first quarter worth about $27,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.