The stock of Starbucks Corporation (NASDAQ:SBUX) hit a new 52-week low and has $48.06 target or 8.00% below today’s $52.24 share price. The 5 months bearish chart indicates high risk for the $75.95 billion company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $48.06 price target is reached, the company will be worth $6.08B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 9.09M shares traded hands or 18.05% up from the average. Starbucks Corporation (NASDAQ:SBUX) has declined 11.56% since March 30, 2016 and is downtrending. It has underperformed by 14.58% the S&P500.
Analysts await Starbucks Corporation (NASDAQ:SBUX) to report earnings on November, 3. They expect $0.55 EPS, up 27.91% or $0.12 from last year’s $0.43 per share. SBUX’s profit will be $799.73 million for 23.75 P/E if the $0.55 EPS becomes a reality. After $0.49 actual EPS reported by Starbucks Corporation for the previous quarter, Wall Street now forecasts 12.24% EPS growth.
Starbucks Corporation (NASDAQ:SBUX) Ratings Coverage
Out of 17 analysts covering Starbucks Corporation (NASDAQ:SBUX), 12 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 71% are positive. Starbucks Corporation has been the topic of 25 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Stifel Nicolaus reinitiated the stock with “Hold” rating in Friday, March 18 report. On Wednesday, September 28 the stock rating was maintained by Wedbush with “Outperform”. Goldman Sachs maintained Starbucks Corporation (NASDAQ:SBUX) on Wednesday, May 4 with “Buy” rating. As per Friday, July 22, the company rating was maintained by Goldman Sachs. The company was downgraded on Friday, August 28 by Vetr. The stock of Starbucks Corporation (NASDAQ:SBUX) has “Hold” rating given on Monday, August 24 by Zacks. The stock of Starbucks Corporation (NASDAQ:SBUX) has “Buy” rating given on Wednesday, September 21 by Longbow. The stock of Starbucks Corporation (NASDAQ:SBUX) has “Mixed” rating given on Wednesday, July 13 by OTR Global. The firm has “Buy” rating by BTIG Research given on Friday, July 22. The firm has “Buy” rating given on Tuesday, July 28 by S&P Research.
According to Zacks Investment Research, “Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipments primarily through its company-operated retail stores. In addition to sales through its company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company. The company’s objective is to establish Starbucks as the most recognized and respected brand in the world.”
Insitutional Activity: The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.05, from 0.97 in 2016Q1. The ratio is positive, as 75 funds sold all Starbucks Corporation shares owned while 464 reduced positions. 87 funds bought stakes while 464 increased positions. They now own 971.80 million shares or 3.96% less from 1.01 billion shares in 2016Q1.
Massmutual Fsb Adv accumulated 0% or 11,354 shares. Vigilant Cap Mngmt Ltd Limited Liability Company has 0% invested in the company for 150 shares. First Mercantile holds 0.21% of its portfolio in Starbucks Corporation (NASDAQ:SBUX) for 29,150 shares. Meiji Yasuda Life Ins has 0.45% invested in the company for 49,448 shares. Moreover, Edgewood Mgmt Limited Company has 0.01% invested in Starbucks Corporation (NASDAQ:SBUX) for 20,261 shares. Northstar reported 57,611 shares or 2.45% of all its holdings. Oak Ridge Investments Ltd Liability holds 0.28% of its portfolio in Starbucks Corporation (NASDAQ:SBUX) for 193,806 shares. Moreover, Pnc Fincl Services Grp Incorporated has 0.05% invested in Starbucks Corporation (NASDAQ:SBUX) for 817,182 shares. Bank & Trust Of Hawaii holds 0.36% or 58,898 shares in its portfolio. Morgan Stanley, a New York-based fund reported 14.87 million shares. Peak6 L P holds 0.05% or 111,051 shares in its portfolio. Country Tru Fincl Bank last reported 732 shares in the company. Advantus Mgmt accumulated 144,908 shares or 0.23% of the stock. New England Rech Mngmt owns 8,600 shares or 0.42% of their US portfolio. Raymond James Associates has invested 0.19% of its portfolio in Starbucks Corporation (NASDAQ:SBUX).
Insider Transactions: Since May 9, 2016, the stock had 0 buys, and 5 insider sales for $13.58 million net activity. 12,654 shares with value of $742,790 were sold by ULLMAN MYRON E III on Tuesday, July 26. $8.25 million worth of Starbucks Corporation (NASDAQ:SBUX) shares were sold by CULVER JOHN. The insider SHENNAN JAMES G JR sold 50,000 shares worth $2.78M. Shares for $700,281 were sold by BRADLEY WILLIAM W.
More notable recent Starbucks Corporation (NASDAQ:SBUX) news were published by: Investorplace.com which released: “Can Tea REALLY Save Starbucks Corporation (SBUX) Stock?” on October 31, 2016, also Seekingalpha.com with their article: “Starbucks Q4 Preview: Meet But Not Beat” published on November 01, 2016, Schaeffersresearch.com published: “Starbucks Corporation (SBUX) Options Traders, Analysts Gear Up for Earnings” on November 01, 2016. More interesting news about Starbucks Corporation (NASDAQ:SBUX) were released by: Fool.com and their article: “How Customization Has Been Key to Years of Growth at Starbucks Corporation” published on October 10, 2016 as well as Profitconfidential.com‘s news article titled: “Starbucks Corporation: Why SBUX Stock is Set to Rebound” with publication date: October 09, 2016.
SBUX Company Profile
Starbucks Corporation, incorporated on November 4, 1985, is the roaster, marketer and retailer of specialty coffee. The Firm purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. The Firm also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts. The Firm operates through four segment: Americas, which includes the United States, Canada, and Latin America; Europe, Middle East, and Africa (EMEA); China/Asia Pacific (CAP), and Channel Development. In addition to its Starbucks Coffee brand, it also sells goods and services under the brands, including Teavana, Tazo, Seattle’s Best Coffee, Evolution Fresh, La Boulange and Ethos.
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