Starbucks’ (SBUX) Sell Rating Reaffirmed at Redburn Atlantic

Starbucks (NASDAQ:SBUX)‘s stock had its “sell” rating restated by Redburn Atlantic in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $77.00 price target on the coffee company’s stock, down from their prior price target of $84.00. Redburn Atlantic’s price target would indicate a potential downside of 22.06% from the stock’s current price.

Several other research analysts also recently weighed in on SBUX. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Wedbush dropped their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.31.

Starbucks Stock Down 1.5 %

Shares of NASDAQ SBUX opened at $98.80 on Wednesday. The business has a fifty day simple moving average of $96.19 and a two-hundred day simple moving average of $85.86. The firm has a market cap of $111.96 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.97. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the business posted $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Starbucks will post 3.15 earnings per share for the current year.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Starbucks

Large investors have recently bought and sold shares of the company. Quent Capital LLC boosted its holdings in shares of Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after buying an additional 385 shares during the period. HBK Sorce Advisory LLC lifted its stake in Starbucks by 11.3% in the first quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock valued at $869,000 after acquiring an additional 967 shares during the last quarter. Leo Wealth LLC lifted its stake in Starbucks by 11.2% in the first quarter. Leo Wealth LLC now owns 2,815 shares of the coffee company’s stock valued at $257,000 after acquiring an additional 283 shares during the last quarter. Brighton Jones LLC increased its position in Starbucks by 8.7% during the first quarter. Brighton Jones LLC now owns 148,302 shares of the coffee company’s stock worth $13,553,000 after acquiring an additional 11,903 shares during the period. Finally, Cumberland Partners Ltd increased its position in Starbucks by 389.5% during the first quarter. Cumberland Partners Ltd now owns 68,703 shares of the coffee company’s stock worth $6,279,000 after acquiring an additional 54,668 shares during the period. Institutional investors own 72.29% of the company’s stock.

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.