Starbucks’ (SBUX) Sell Rating Reaffirmed at Redburn Atlantic

Starbucks (NASDAQ:SBUX)‘s stock had its “sell” rating restated by stock analysts at Redburn Atlantic in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $77.00 price target on the coffee company’s stock, down from their previous price target of $84.00. Redburn Atlantic’s target price indicates a potential downside of 22.40% from the company’s current price.

SBUX has been the subject of several other research reports. Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $102.31.

Starbucks Trading Down 0.6 %

SBUX opened at $99.23 on Wednesday. The stock has a 50-day moving average of $96.45 and a 200 day moving average of $86.03. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market cap of $112.45 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.86 and a beta of 0.97.

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

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Riverview Trust Co increased its holdings in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares in the last quarter. Essex Savings Bank increased its stake in Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in shares of Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC lifted its stake in shares of Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.