Starbucks (NASDAQ:SBUX) Downgraded by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to an underperform rating in a research note released on Tuesday, Marketbeat reports. Jefferies Financial Group currently has $76.00 price target on the coffee company’s stock, down from their previous price target of $80.00.

A number of other analysts have also recently commented on the stock. Robert W. Baird upgraded shares of Starbucks from a neutral rating to an outperform rating and increased their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. TD Cowen reiterated a buy rating and issued a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Bank of America boosted their price target on Starbucks from $112.00 to $118.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Wedbush reaffirmed a neutral rating and issued a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Piper Sandler raised Starbucks from a neutral rating to an overweight rating and boosted their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $100.52.

Starbucks Stock Performance

Shares of SBUX stock opened at $97.47 on Tuesday. The company has a market capitalization of $110.45 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The company’s 50 day moving average price is $87.91 and its two-hundred day moving average price is $84.13.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts forecast that Starbucks will post 3.56 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

A number of hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its stake in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in Starbucks by 4.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after buying an additional 133 shares in the last quarter. Edge Capital Group LLC raised its stake in Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after buying an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in Starbucks by 30.9% in the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.