Starbucks (NASDAQ:SBUX) Given Hold Rating at TD Cowen

Starbucks (NASDAQ:SBUX)‘s stock had its “hold” rating reissued by TD Cowen in a report released on Monday,Benzinga reports. They presently have a $84.00 target price on the coffee company’s stock. TD Cowen’s price objective points to a potential downside of 3.49% from the company’s previous close.

A number of other brokerages have also recently weighed in on SBUX. Citigroup reduced their price target on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Wall Street Zen raised Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Up 0.4%

Shares of Starbucks stock opened at $87.04 on Monday. Starbucks has a 52 week low of $75.50 and a 52 week high of $117.46. The firm’s 50 day moving average is $84.06 and its two-hundred day moving average is $87.72. The firm has a market capitalization of $98.97 billion, a P/E ratio of 53.07, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. This represents a 28.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 113,438,902 shares of the coffee company’s stock worth $9,596,931,000 after purchasing an additional 577,279 shares during the period. Capital Research Global Investors raised its holdings in shares of Starbucks by 11.4% in the 3rd quarter. Capital Research Global Investors now owns 85,460,350 shares of the coffee company’s stock worth $7,229,968,000 after purchasing an additional 8,774,198 shares during the period. Capital World Investors raised its holdings in Starbucks by 1.9% in the third quarter. Capital World Investors now owns 77,720,137 shares of the coffee company’s stock valued at $6,575,430,000 after buying an additional 1,462,874 shares during the period. State Street Corp lifted its holdings in shares of Starbucks by 1.2% during the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after acquiring an additional 544,534 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Starbucks by 0.4% during the second quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock worth $2,357,815,000 after purchasing an additional 99,983 shares in the last quarter. 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.