Starbucks’ (SBUX) “Hold” Rating Reiterated at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a $95.00 target price on the coffee company’s stock.

Other research analysts have also issued reports about the company. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Wells Fargo & Company raised their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Morgan Stanley reissued an “overweight” rating and set a $103.00 price target (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $83.39 on Thursday. Starbucks has a 1-year low of $75.50 and a 1-year high of $117.46. The business’s fifty day moving average price is $88.48 and its two-hundred day moving average price is $88.97. The firm has a market capitalization of $94.79 billion, a PE ratio of 35.94, a P/E/G ratio of 4.98 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Starbucks’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of Starbucks in the fourth quarter worth approximately $263,000. Centaurus Financial Inc. increased its position in shares of Starbucks by 10.7% in the fourth quarter. Centaurus Financial Inc. now owns 21,076 shares of the coffee company’s stock worth $1,923,000 after acquiring an additional 2,031 shares in the last quarter. Neville Rodie & Shaw Inc. purchased a new position in shares of Starbucks in the first quarter worth approximately $218,000. Finally, Marcum Wealth LLC increased its position in shares of Starbucks by 8.7% in the first quarter. Marcum Wealth LLC now owns 10,934 shares of the coffee company’s stock worth $1,073,000 after acquiring an additional 875 shares in the last quarter. Institutional investors 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.