Starbucks (NASDAQ:SBUX) Earns Hold Rating from 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 $85.00 price target on the coffee company’s stock.

SBUX has been the topic of a number of other research reports. William Blair cut shares of Starbucks from an outperform rating to a market perform rating in a research report on Wednesday, May 1st. Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Piper Sandler reduced their price target on shares of Starbucks from $88.00 to $85.00 and set a neutral rating on the stock in a research report on Monday, May 6th. Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Finally, Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a hold rating on the stock in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $95.00.

Starbucks Stock Down 0.7 %

Shares of NASDAQ:SBUX opened at $79.65 on Thursday. The stock has a market cap of $90.22 billion, a PE ratio of 21.94, a PEG ratio of 1.75 and a beta of 0.96. The company’s fifty day moving average is $80.98 and its 200 day moving average is $89.29. Starbucks has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. Starbucks’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks will post 3.59 EPS for the current year.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,750 shares of company stock worth $642,050. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. Vima LLC purchased a new position in shares of Starbucks in the fourth quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. raised its position in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. 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.