Starbucks (NASDAQ:SBUX) Downgraded to “Strong Sell” Rating by Dbs Bank

Starbucks (NASDAQ:SBUX) was downgraded by equities researchers at Dbs Bank from a “hold” rating to a “strong sell” rating in a research report issued on Friday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $105.00 price objective on shares of Starbucks in a report on Thursday, October 30th. Piper Sandler lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $100.50.

Starbucks Stock Performance

NASDAQ:SBUX opened at $85.57 on Friday. The firm has a market cap of $97.27 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 4.28 and a beta of 1.02. The firm’s fifty day moving average is $83.92 and its two-hundred day moving average is $87.46. Starbucks has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in SBUX. Narwhal Capital Management increased its holdings in shares of Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares during the period. PUREfi Wealth LLC acquired a new position in shares of Starbucks during the second quarter valued at $286,000. Napa Wealth Management bought a new stake in shares of Starbucks during the first quarter valued at about $1,435,000. Morningstar Investment Management LLC acquired a new stake in Starbucks in the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. bought a new position in Starbucks in the 2nd quarter valued at about $1,289,000. Institutional investors and hedge funds 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.