CICC Research Initiates Coverage on Starbucks (NASDAQ:SBUX)

CICC Research started coverage on shares of Starbucks (NASDAQ:SBUX) in a research note published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $100.00 price target on the coffee company’s stock.

Several other equities research analysts also recently weighed in on the company. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Evercore ISI reiterated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. UBS Group dropped their target price on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Guggenheim lowered their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average price target of $98.23.

Starbucks Trading Down 0.8%

Shares of NASDAQ SBUX opened at $94.18 on Monday. The stock has a market capitalization of $107.03 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 4.86 and a beta of 1.02. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The stock’s fifty day simple moving average is $87.51 and its two-hundred day simple moving average is $94.26.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norway Savings Bank increased its stake in shares of Starbucks by 10.1% in the 2nd quarter. Norway Savings Bank now owns 11,029 shares of the coffee company’s stock valued at $1,011,000 after purchasing an additional 1,011 shares in the last quarter. First National Bank Sioux Falls grew its holdings in Starbucks by 10.5% in the second quarter. First National Bank Sioux Falls now owns 6,641 shares of the coffee company’s stock valued at $609,000 after purchasing an additional 633 shares during the period. Rowlandmiller & PARTNERS.ADV increased its position in shares of Starbucks by 1.4% in the second quarter. Rowlandmiller & PARTNERS.ADV now owns 15,014 shares of the coffee company’s stock valued at $1,376,000 after buying an additional 210 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Starbucks during the 1st quarter worth approximately $4,110,000. Finally, Voya Investment Management LLC raised its stake in shares of Starbucks by 16.4% during the 1st quarter. Voya Investment Management LLC now owns 1,691,874 shares of the coffee company’s stock worth $165,956,000 after buying an additional 238,520 shares during the period. Institutional investors and hedge funds 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.