Starbucks (NASDAQ:SBUX) Rating Increased to Hold at Wall Street Zen

Starbucks (NASDAQ:SBUX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued reports about the stock. Barclays reduced their price objective on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. Citigroup lowered their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. TD Cowen restated a “hold” rating and set a $84.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Finally, Guggenheim boosted their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Trading Up 3.3%

Shares of SBUX stock opened at $85.35 on Friday. Starbucks has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market capitalization of $97.05 billion, a P/E ratio of 52.04, a P/E/G ratio of 4.28 and a beta of 1.02. The stock has a 50 day moving average of $83.83 and a two-hundred day moving average of $87.59.

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

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of SBUX. CIBC Bancorp USA Inc. bought a new position in Starbucks in the 3rd quarter worth approximately $16,787,000. Tcfg Wealth Management LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at $4,417,000. Centaurus Financial Inc. raised its position in shares of Starbucks by 25.5% during the third quarter. Centaurus Financial Inc. now owns 28,244 shares of the coffee company’s stock worth $2,389,000 after acquiring an additional 5,731 shares during the last quarter. Faithward Advisors LLC lifted its stake in shares of Starbucks by 5.5% during the third quarter. Faithward Advisors LLC now owns 4,769 shares of the coffee company’s stock valued at $403,000 after acquiring an additional 250 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in Starbucks by 4.3% in the third quarter. Sunbelt Securities Inc. now owns 27,432 shares of the coffee company’s stock valued at $2,321,000 after acquiring an additional 1,123 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

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.