Starbucks (NASDAQ:SBUX) Stock Rating Lowered by Dbs Bank

Starbucks (NASDAQ:SBUX) was downgraded by stock analysts at Dbs Bank from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday,Zacks.com reports.

Several other analysts also recently commented on the stock. Piper Sandler cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. TD Cowen restated a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Finally, Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus target price of $100.50.

Starbucks Stock Up 4.1%

SBUX stock opened at $85.57 on Friday. The business has a 50 day moving average of $83.92 and a 200 day moving average of $87.50. The firm has a market cap of $97.27 billion, a PE ratio of 52.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the firm posted $0.80 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC grew its stake in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Country Club Bank lifted its holdings in Starbucks by 0.9% during the first quarter. Country Club Bank now owns 22,381 shares of the coffee company’s stock valued at $2,187,000 after purchasing an additional 195 shares in the last quarter. Diversify Wealth Management LLC boosted its position in shares of Starbucks by 192.0% in the first quarter. Diversify Wealth Management LLC now owns 11,908 shares of the coffee company’s stock worth $1,168,000 after purchasing an additional 7,830 shares during the period. PYA Waltman Capital LLC increased its stake in shares of Starbucks by 3.7% in the first quarter. PYA Waltman Capital LLC now owns 10,428 shares of the coffee company’s stock worth $1,023,000 after purchasing an additional 371 shares in the last quarter. Finally, Family Firm Inc. increased its stake in shares of Starbucks by 6.7% in the first quarter. Family Firm Inc. now owns 3,677 shares of the coffee company’s stock worth $361,000 after purchasing an additional 232 shares in the last quarter. 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.