TD Cowen Reiterates Hold Rating for Starbucks (NASDAQ:SBUX)

Starbucks (NASDAQ:SBUX)‘s stock had its “hold” rating reiterated by stock analysts at TD Cowen in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $84.00 price objective on the coffee company’s stock. TD Cowen’s price target points to a potential upside of 3.87% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Royal Bank Of Canada upped their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein upped their target price on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Mizuho upgraded Starbucks to a “hold” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.50.

Starbucks Stock Down 2.7%

NASDAQ SBUX opened at $80.87 on Thursday. Starbucks has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market cap of $91.92 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. The business has a fifty day moving average of $84.43 and a 200-day moving average of $87.44.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $9.41 billion. During the same period last year, the firm earned $0.80 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its stake in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares during the last quarter. Cooper Haims Advisors LLC increased its stake in Starbucks by 3.0% during the second quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock worth $344,000 after acquiring an additional 110 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after acquiring an additional 117 shares during the last quarter. Diligent Investors LLC increased its stake in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after acquiring an additional 117 shares during the last quarter. Finally, Ted Buchan & Co increased its stake in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after acquiring an additional 120 shares during the last quarter. 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.