TD Securities Reaffirms “Hold” Rating for Starbucks (NASDAQ:SBUX)

Starbucks (NASDAQ:SBUX)‘s stock had its “hold” rating reiterated by research analysts at TD Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $90.00 target price on the coffee company’s stock. TD Securities’ price objective would suggest a potential downside of 1.56% from the company’s current price.

Several other equities analysts have also recently weighed in on SBUX. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, TD Cowen reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Stock Up 0.8%

NASDAQ SBUX opened at $91.43 on Wednesday. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $103.90 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average is $84.34 and its 200-day moving average is $95.03.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business earned $0.68 earnings per share. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks will post 2.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Capital World Investors raised its stake in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC raised its stake in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its stake in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after purchasing an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors and hedge funds 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.