Starbucks’ (SBUX) Hold Rating Reaffirmed at TD Securities

TD Securities reaffirmed their hold rating on shares of Starbucks (NASDAQ:SBUX) in a report published on Wednesday morning,Benzinga reports. TD Securities currently has a $90.00 target price on the coffee company’s stock.

SBUX has been the subject of several other reports. Guggenheim reduced their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. TD Cowen restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. BMO Capital Markets reduced their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group reduced their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.96.

Starbucks Trading Down 1.1%

Shares of Starbucks stock opened at $93.26 on Wednesday. The business has a 50-day moving average price of $85.17 and a two-hundred day moving average price of $94.93. Starbucks has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $105.98 billion, a P/E ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00.

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

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently modified their holdings of the company. Capital & Planning LLC increased its stake in shares of Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after purchasing an additional 3,483 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $62,000. Empowered Funds LLC increased its stake in shares of Starbucks by 14.7% during the 4th quarter. Empowered Funds LLC now owns 45,818 shares of the coffee company’s stock worth $4,181,000 after purchasing an additional 5,877 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $812,000. 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.