Starbucks (SBUX) Downgraded by Vetr

Vetr downgraded shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a report released on Monday. The firm currently has $61.72 target price on the coffee company’s stock.

A number of other research analysts have also recently weighed in on SBUX. OTR Global upgraded Starbucks to a positive rating in a research report on Thursday, October 26th. Morgan Stanley raised their price target on Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a research report on Friday, November 10th. Bank of America restated a neutral rating and issued a $65.00 price target on shares of Starbucks in a research report on Thursday, September 14th. Cowen restated an outperform rating and issued a $62.00 price target (down previously from $63.00) on shares of Starbucks in a research report on Tuesday, October 10th. Finally, Zacks Investment Research cut Starbucks from a hold rating to a sell rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $63.23.

Starbucks (NASDAQ:SBUX) opened at $60.00 on Monday. The stock has a market capitalization of $85,370.00, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. equities analysts expect that Starbucks will post 2.34 EPS for the current fiscal year.

In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SBUX. Jacobi Capital Management LLC raised its holdings in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Starbucks in the 3rd quarter worth about $111,000. Valley National Advisers Inc. raised its holdings in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Starbucks in the 2nd quarter worth about $128,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

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Starbucks Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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