The stock of Starbucks Corporation (NASDAQ:SBUX) is a huge mover today! About 3.55 million shares traded hands. Starbucks Corporation (NASDAQ:SBUX) has declined 12.04% since April 11, 2016 and is downtrending. It has underperformed by 18.18% the S&P500.
The move comes after 8 months positive chart setup for the $77.26B company. It was reported on Nov, 11 by Barchart.com. We have $74.60 PT which if reached, will make NASDAQ:SBUX worth $30.13B more.
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 26 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Goldman Sachs on Wednesday, May 4. The stock of Starbucks Corporation (NASDAQ:SBUX) earned “Outperform” rating by Wedbush on Wednesday, September 28. Deutsche Bank downgraded Starbucks Corporation (NASDAQ:SBUX) rating on Tuesday, April 12. Deutsche Bank has “Hold” rating and $64 price target. The firm has “Buy” rating given on Tuesday, April 5 by Evercore. RBC Capital Markets maintained Starbucks Corporation (NASDAQ:SBUX) rating on Friday, October 30. RBC Capital Markets has “Outperform” rating and $68 price target. The rating was maintained by RBC Capital Markets on Wednesday, October 19 with “Outperform”. BMO Capital Markets maintained Starbucks Corporation (NASDAQ:SBUX) on Friday, October 30 with “Outperform” rating. S&P Research upgraded the stock to “Buy” rating in Tuesday, July 28 report. The company was downgraded on Friday, August 28 by Vetr. The rating was downgraded by Vetr to “Buy” on Thursday, September 3.
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 increased, 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.
Lenox Wealth Mngmt holds 6 shares or 0% of its portfolio. Mycio Wealth Prtnrs Limited Company has 3,007 shares for 0.03% of their US portfolio. Rhumbline Advisers, a Massachusetts-based fund reported 2.19 million shares. The New York-based Samsung Asset (New York) has invested 2.03% in Starbucks Corporation (NASDAQ:SBUX). Indiana Trust Mgmt last reported 0.16% of its portfolio in the stock. Moreover, Bell Bancorporation And Tru has 0.45% invested in Starbucks Corporation (NASDAQ:SBUX) for 13,828 shares. Price T Rowe Md last reported 0.34% of its portfolio in the stock. Fincl Bank Of New York Mellon has 0.5% invested in the company for 28.63M shares. The Illinois-based Alley Company Lc has invested 1.44% in Starbucks Corporation (NASDAQ:SBUX). Moreover, Congress Asset Co Ma has 1.64% invested in Starbucks Corporation (NASDAQ:SBUX) for 1.25M shares. Moreover, Goelzer has 0.35% invested in Starbucks Corporation (NASDAQ:SBUX) for 44,673 shares. Credit Agricole S A accumulated 1.39M shares or 0.31% of the stock. Tortoise Investment Limited Liability Company accumulated 891 shares or 0.02% of the stock. Miles Capital, a Iowa-based fund reported 8,965 shares. Moreover, Prescott Grp Management Ltd Liability Corp has 0.24% invested in Starbucks Corporation (NASDAQ:SBUX) for 17,200 shares.
Insider Transactions: Since May 16, 2016, the stock had 0 insider purchases, and 4 insider sales for $5.33 million net activity. $1.11M worth of Starbucks Corporation (NASDAQ:SBUX) was sold by ULLMAN MYRON E III. 12,654 shares were sold by BRADLEY WILLIAM W, worth $700,281 on Friday, May 27. $2.78 million worth of Starbucks Corporation (NASDAQ:SBUX) was sold by SHENNAN JAMES G JR.
More important recent Starbucks Corporation (NASDAQ:SBUX) news were published by: Investorplace.com which released: “Fill Your Cup With Starbucks Corporation (SBUX) Stock” on November 11, 2016, also Investorplace.com published article titled: “Starbucks Holiday Cups 2016: Starbucks Corporation (SBUX) Debuts 13 Different …”, Seekingalpha.com published: “Starbucks: A Downgrade Again” on November 11, 2016. More interesting news about Starbucks Corporation (NASDAQ:SBUX) was released by: Investorplace.com and their article: “There’s Absolutely No Reason to Buy Starbucks Corporation (SBUX) Stock Right Now” with publication date: November 07, 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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