Starbucks (NASDAQ:SBUX) Receives “Hold” Rating from TD Securities

TD Securities restated their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $90.00 target price on the coffee company’s stock.

A number of other brokerages have also commented on SBUX. TD Cowen reiterated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Royal Bank of Canada lowered shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.12.

Starbucks Stock Up 4.3%

SBUX opened at $95.39 on Wednesday. Starbucks has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a 50 day moving average of $84.61 and a two-hundred day moving average of $95.03. The company has a market cap of $108.40 billion, a P/E ratio of 30.77, a P/E/G ratio of 3.59 and a beta of 1.00.

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

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Capital & Planning LLC grew its holdings 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 valued at $1,099,000 after acquiring an additional 3,483 shares in the last quarter. Brighton Jones LLC grew its stake in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Starbucks in the 4th quarter worth about $62,000. Empowered Funds LLC raised 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 in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Starbucks during the 4th quarter valued at about $812,000. 72.29% of the stock is currently 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.