Starbucks (NASDAQ:SBUX) Downgraded by Jefferies Financial Group to "Underperform"

Starbucks (NASDAQ:SBUX - Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a "hold" rating to an "underperform" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $76.00 target price on the coffee company's stock. Jefferies Financial Group's price objective points to a potential downside of 18.45% from the stock's current price.

Other equities analysts also recently issued reports about the company. TD Cowen reaffirmed a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. Evercore ISI restated an "outperform" rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Sanford C. Bernstein upped their price target on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, TD Securities reaffirmed a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.85.

Starbucks Stock Up 0.7%

SBUX traded up $0.68 on Thursday, reaching $93.19. The company's stock had a trading volume of 8,577,233 shares, compared to its average volume of 10,787,554. The stock has a 50 day moving average of $89.73 and a two-hundred day moving average of $94.52. The company has a market capitalization of $105.90 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 4.74 and a beta of 1.02. Starbucks has a fifty-two week low of $72.73 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of 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 buying an additional 81,952 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Starbucks by 10.3% in the fourth quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company's stock valued at $698,000 after buying an additional 714 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Starbucks by 0.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 20,439 shares of the coffee company's stock valued at $1,865,000 after buying an additional 176 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Starbucks by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company's stock valued at $5,859,000 after buying an additional 260 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Starbucks in the fourth quarter valued at about $3,181,000. 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.