Redburn Atlantic Reaffirms Sell Rating for Starbucks (NASDAQ:SBUX)

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

SBUX has been the subject of several other reports. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.31.

Starbucks Stock Down 0.6 %

Starbucks stock opened at $99.23 on Wednesday. The stock’s 50 day moving average is $96.45 and its 200 day moving average is $86.03. The company has a market capitalization of $112.45 billion, a P/E ratio of 29.98, a PEG ratio of 2.86 and a beta of 0.97. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66.

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

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s 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 completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the second quarter worth $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the second quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Starbucks in the second quarter worth about $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

About Starbucks

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.