BidaskClub Downgrades Starbucks (SBUX) to Buy
Several other equities research analysts also recently issued reports on SBUX. Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $68.00 in a report on Friday, January 11th. BMO Capital Markets dropped their price objective on Starbucks to $60.00 and set a “market perform” rating on the stock in a report on Friday, January 11th. They noted that the move was a valuation call. Oppenheimer restated an “outperform” rating and set a $72.00 price objective (up from $70.00) on shares of Starbucks in a report on Friday, January 25th. CIBC lifted their price objective on Starbucks from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, January 25th. Finally, Bank of America set a $75.00 price objective on Starbucks and gave the stock a “buy” rating in a report on Friday, January 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.08.
SBUX stock opened at $76.06 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 7.73. Starbucks has a 52-week low of $47.37 and a 52-week high of $76.95. The company has a market cap of $94.59 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51.
In related news, insider Clifford Burrows sold 152,634 shares of the company’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total transaction of $10,260,057.48. Following the completion of the transaction, the insider now directly owns 311,083 shares in the company, valued at approximately $20,910,999.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Culver sold 169,096 shares of the company’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $68.81, for a total value of $11,635,495.76. The disclosure for this sale can be found here. Insiders sold a total of 565,806 shares of company stock valued at $38,789,988 over the last quarter. Company insiders own 3.98% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cornell Pochily Investment Advisors Inc. grew its stake in Starbucks by 6.2% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 9,616 shares of the coffee company’s stock worth $714,000 after buying an additional 562 shares during the last quarter. BLB&B Advisors LLC bought a new position in Starbucks during the 1st quarter worth $310,000. Financial Gravity Wealth Inc. bought a new position in Starbucks during the 1st quarter worth $83,000. Isthmus Partners LLC bought a new position in Starbucks during the 1st quarter worth $998,000. Finally, Cypress Wealth Services LLC grew its stake in Starbucks by 8.7% during the 1st quarter. Cypress Wealth Services LLC now owns 18,449 shares of the coffee company’s stock worth $1,372,000 after buying an additional 1,474 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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