Starbucks (NASDAQ:SBUX) Raised to Hold at StockNews.com

Starbucks (NASDAQ:SBUX - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on SBUX. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. The Goldman Sachs Group lowered Starbucks from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. UBS Group cut their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and an average price target of $98.72.

Starbucks Trading Down 2.3 %

Shares of Starbucks stock opened at $80.30 on Friday. The stock has a fifty day simple moving average of $90.00 and a 200 day simple moving average of $96.89. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $91.25 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. On average, analysts predict that Starbucks will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the company. Arjuna Capital lifted its holdings in shares of Starbucks by 94.6% during the first quarter. Arjuna Capital now owns 24,856 shares of the coffee company's stock valued at $2,438,000 after purchasing an additional 12,084 shares during the last quarter. Blue Barn Wealth LLC bought a new position in shares of Starbucks in the first quarter worth approximately $259,000. Chicago Partners Investment Group LLC grew its holdings in shares of Starbucks by 12.4% during the first quarter. Chicago Partners Investment Group LLC now owns 18,673 shares of the coffee company's stock valued at $1,832,000 after buying an additional 2,056 shares during the last quarter. Evolution Wealth Advisors LLC increased its position in shares of Starbucks by 13.7% during the first quarter. Evolution Wealth Advisors LLC now owns 3,020 shares of the coffee company's stock valued at $296,000 after acquiring an additional 363 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Starbucks in the 1st quarter worth approximately $8,599,000. 72.29% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.