Starbucks (NASDAQ:SBUX) Raised to Hold at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) was upgraded by equities research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $76.00 target price on the coffee company’s stock. Jefferies Financial Group’s price target indicates a potential downside of 10.17% from the company’s current price.

A number of other research analysts also recently commented on SBUX. Wells Fargo & Company raised their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research note on Monday. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $105.12.

Starbucks Stock Performance

Starbucks stock opened at $84.60 on Wednesday. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market capitalization of $96.10 billion, a PE ratio of 27.29, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a 50 day moving average price of $102.66 and a 200-day moving average price of $98.85.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.90 earnings per share. On average, analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC boosted its stake in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR boosted its position in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after purchasing an additional 92 shares in the last quarter. Wintrust Investments LLC grew its stake in shares of Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel increased its holdings in shares of Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC lifted its stake in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

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.