Starbucks Corporation (SBUX) was Downgraded by Deutsche Bank to ” Hold” while Lowering the Price Target of the company shares to $ 64 from a previous price target of $70 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Apr 12, 2016.
Many Wall Street Analysts have commented on Starbucks Corporation. Shares were Downgraded by Deutsche Bank on Apr 12, 2016 to ” Hold” and Lowered the Price Target to $ 64 from a previous price target of $70 .Starbucks Corporation was Resumed by Stifel to “Hold” on Mar 18, 2016.
On the company’s financial health, Starbucks Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.45. The company had revenue of $5373.50 million for the quarter, compared to analysts expectations of $5394.69 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
Starbucks Corporation closed down -0.14 points or -0.23% at $60.9 with 61,03,358 shares getting traded on Monday. Post opening the session at $61.22, the shares hit an intraday low of $60.78 and an intraday high of $61.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 2, 2016, James G Jr Shennan (director) sold 20,000 shares at $58.99 per share price. According to the SEC, on Jan 29, 2016, Craig Weatherup (director) sold 117,966 shares at $58.31 per share price. On Dec 11, 2015, Lucy Lee Helm (evp, gen. counsel & secretary) sold 13,356 shares at $62.05 per share price, according to the Form-4 filing with the securities and exchange commission.
Starbucks Corporation is the roaster marketer and retailer of specialty coffee. The Company 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. It 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. It 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. Its Americas EMEA and CAP segments include both Company-operated and licensed stores. The Americas and EMEA segments include certain foodservice accounts primarily in Canada and the United Kingdom.