Starbucks to close Teavana stores, including two locally

Starbucks to close Teavana stores, including two locally”

The current market capitalization of Starbucks Corp (NASDAQ:SBUX) stands at 86.16 Billion. Scotia Capital upped its stake in Starbucks Corporation by 5.9% in the Q4. On June 14 the company was set at "Neutral" according to a Wedbush report which was a cut from the previous "Outperform" rating. Thirteen equity analysts rating the company a strong buy, eleven equity analysts rating the company a buy, five equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $68.13. They now have a $70.00 target price on the coffee company's stock.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 54.00 on Friday.

The P/E ratio is 28.90 and market cap is 84.63B.

Current levels places Starbucks Corporation (NASDAQ:SBUX)'s stock about -17.48% from the 50-day high and -6.74% away from the 50-day low.

Coffee giant Starbucks will shutter its Teavana retail chain because of weak sales, the company announced Thursday. Third-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.55 and $5.75 billion in revenues. Revenues were up 8.1 percent to $5.7 billion from $5.2 billion in same quarter a year ago. Montecito Bank & Trust now owns 4,341 shares of the coffee company's stock valued at $254,000 after buying an additional 500 shares in the last quarter. Over the past month the firm's stock is 3.44%, -9.36% for the last quarter, 33.70% for the past six-months and 101.53% for the a year ago. Analysts polled by FactSet had expected adjusted earnings of 55 cents a share on sales of $5.76 billion.

ILLEGAL ACTIVITY WARNING: This news story was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another domain, it was stolen and reposted in violation of global copyright & trademark law. The original version of this report can be read at Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction dated Thursday, May 18th. Its last month's stock price volatility remained 1.21% which for the week stands at 1.21%. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBUX. Stifel Nicolaus upgraded shares of Starbucks Corporation to a "buy" rating in a report on Saturday, May 13th. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company's stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Starbucks Corporation by 28.8% in the fourth quarter. Insiders have sold 144,826 shares of company stock valued at $8,642,454 over the last 90 days.

Starbucks will be selling the rest of its share in President Starbucks Coffee Taiwan Limited for $175 million.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 20,000 shares of the firm's stock in a transaction on Wednesday, May 3rd.

Stifel's retail survey found that rewards members are about three times more likely than non-members to buy more than one Starbucks beverage a month and two times more likely to buy more than one food item, which is part of why Astrachan finds the slowdown concerning. Future stores opening in the country will be as well, the company said.

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