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SBUX

Starbucks

$57.43

0.22 (0.38%)

, NSRGY

Nestle

$0.00

(0.00%)

17:59
06/19/18
06/19
17:59
06/19/18
17:59

Starbucks slips after announcing more store closures, cutting Q3 SSS view

Shares of Starbucks (SBUX) are trading lower in after-hours trading after the coffee giant announced a set of strategic priorities and operational initiatives to accelerate growth and create long-term shareholder value, with CEO Kevin Johnson saying the company's recent performance is "not acceptable." STRATEGIC PRIORITIES: In an effort to optimize its U.S. store portfolio, Starbucks said it will increase the closure of underperforming stores in its most densely penetrated markets to approximately 150 in FY19 from a historical average of up to 50 annually. In addition, the company is expanding its digital relationships with current and new customers and expects newer digital initiatives to contribute one to two points of comp growth in the U.S. in FY19. The company also noted it is making progress toward closure of the Global Coffee Alliance transaction with Nestle (NSRGY) to accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods and Foodservice. CAPITAL RETURNS: As a result of its new strategic priorities, Starbucks now expects to return roughly $25B in cash to shareholders in the form of share buybacks and dividends through fiscal 2020, an increase of $10B from the cash return target announced in November 2017. As part of the accelerated return, Starbucks' board approved a 20% increase the company's regular quarterly and declared a cash dividend of 36c per share. GUIDANCE SHIFT: As part of the strategic update, Starbucks cut its Q3 global comparable store sales view to 1% from its previous view of 3%. Following the press release, the company said at the Oppenheimer Consumer Growth and E-Commerce Conference that it was reducing its FY18 adjusted EPS guidance to $2.39-$2.43 from its previous view of $2.48-$2.53. Analysts expect the company to report FY18 EPS of $2.49. PRICE ACTION: In after-hours trading, Starbucks shares were lower by 1.6%.

SBUX

Starbucks

$57.43

0.22 (0.38%)

NSRGY

Nestle

$0.00

(0.00%)

  • 19

    Jun

  • 22

    Jun

SBUX Starbucks
$57.43

0.22 (0.38%)

05/21/18
UBSW
05/21/18
NO CHANGE
Target $66
UBSW
Buy
Starbucks deserves a premium multiple, says UBS
UBS analyst Dennis Geiger said Starbucks has broad-based quality growth and as a results deserves its premium multiple. The analyst went to China and saw a strong and increasingly important growth opportunity. The analyst said new products, digital, and market tailwinds will help contribute to its positive same-store-sales growth. Geiger reiterated his Buy rating and $66 price target on Starbucks shares.
06/05/18
MSCO
06/05/18
NO CHANGE
Target $72
MSCO
Overweight
Schultz leaving a loss, but Morgan Stanley says change can benefit Starbucks too
Morgan Stanley John Glass said Howard Schultz stepping down from his role of executive chairman must be considered a loss for Starbucks, but he added that change can have some potential benefits as well. Glass contends Starbucks is at an important crossroads in its strategy and he believes this event perhaps could further accelerate this process as the new leadership team put the company on a path toward the future with their own ideas. Glass maintains his Overweight rating and $72 price target on Starbucks shares.
06/05/18
BARD
06/05/18
NO CHANGE
Target $65
BARD
Outperform
Starbucks loss of Schultz raises risk profile, says Baird
Baird analyst David Tarantino believes the departure of Howard Schultz from Starbucks raises the risk profile for investors. The analyst said he is disappointed to see such an iconic leader exit the business, but he is cautiously optimistic the current leadership team can execute the current strategies effectively. Tarantino lowered his price target to $65 from $68 on Starbucks shares, but maintains an Outperform rating.
06/19/18
SPHN
06/19/18
NO CHANGE
Target $58
SPHN
Equal Weight
Starbucks has no 'meaningful initiatives to improve sales', says Stephens
Stephens analyst Will Slabaugh kept his Equal Weight rating and $58 price target on Starbucks after its Q3 update, saying the 1% comps growth forecast implies a slowdown from the 3% start that was mentioned in the company's Q2 conference call. The analyst notes that he remains concerned about the lack of "meaningful initiatives to improve sales trajectory" at Starbucks, which would support its valuation expansion.
NSRGY Nestle
$0.00

(0.00%)

10/13/17
CHLM
10/13/17
NO CHANGE
Target $7
CHLM
Buy
Market just beginning to recognize Codexis opportunity, says Craig-Hallum
Craig-Hallum analyst Matt Hewitt says Codexis (CDXS) has a "unique proprietary CodeEvolver protein engineering platform" that is being sought by large pharma names, citing yesterday's announcement of a partnership with Nestle (NSRGY). Hewitt says that despite the recent stock price appreciation, the increasing value of the company's development pipeline suggests the markets is just starting to recognize the opportunity. The analyst has a Buy rating and a $7 price target on the stock.
11/21/17
WELS
11/21/17
NO CHANGE
WELS
Nestle acquisition of Hain makes sense, says Wells Fargo
Wells Fargo analyst John Baumgartner believes a Nestle (NSRGY) acquisition of Hain Celestial (HAIN) would make sense. Bloomberg last night reported that Nestle is among the companies exploring a purchase of Hain. Nestle would likely be a good fit for Hain's baby food, skin care and tea businesses, Baumgartner told investors earlier in a research note. The analyst sees "tax leakage" as a headwind for any deal and keeps a Market Perform rating on Hain with a $38 price target.
05/08/18
MSCO
05/08/18
NO CHANGE
Target $72
MSCO
Overweight
Starbucks packaged deal with Nestle a long-term positive, says Morgan Stanley
Morgan Stanley analyst John Glass called Starbucks' (SBUX) packaged coffee deal with Nestle (NSRGY) a long-term positive, noting that it opens up previously untapped markets and improves the business' growth profile. The deal should be dilutive in FY19 and accretive by FY21, added Glass, who has an Overweight rating and $72 price target on Starbucks shares.
05/16/18
SPHN
05/16/18
INITIATION
Target $16
SPHN
Overweight
Codexis initiated with an Overweight at Stephens
Stephens analyst Drew Jones started Codexis (CDXS) with an Overweight rating and $16 price target, stating that the company's CodeEvolver platform technology has been sought by pharma partners Merck (MRK), GlaxoSmithKline (GSK) and Nestle (NSRGY) and he expects continued deeper adoption from other major industry players.

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PTC

PTC

$98.28

-0.63 (-0.64%)

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IBM

IBM

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0.86 (0.60%)

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CP

Canadian Pacific

$189.21

3.205 (1.72%)

16:03
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PTC

PTC

$98.28

-0.63 (-0.64%)

16:03
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Hot Stocks
PTC reports Q3 deferred revenue $1.21B, up 33% »

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CP

Canadian Pacific

$189.21

3.205 (1.72%)

16:03
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Canadian Pacific CEO says 'well positioned for a strong second half' »

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  • 18

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CP

Canadian Pacific

$189.16

3.155 (1.70%)

16:02
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Hot Stocks
Canadian Pacific reports Q2 operating ratio 64.2% »

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PTC

PTC

$98.33

-0.58 (-0.59%)

16:02
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Earnings
PTC reports Q3 adjusted EPS 36c, consensus 32c »

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  • 18

    Jul

CP

Canadian Pacific

$189.17

3.165 (1.70%)

16:01
07/18/18
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Earnings
Canadian Pacific reports Q2 adjusted EPS C$3.16, consensus C$3.08 »

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CVCY

Central Valley Community

$21.15

-0.05 (-0.24%)

16:01
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Earnings
Central Valley Community reports Q2 EPS 36c, consensus 34c »

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FMI

Foundation Medicine

$136.83

(0.00%)

16:00
07/18/18
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Foundation Medicine to settle patent infringement suit with Guardant Health »

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  • 08

    Aug

VR

Validus

$67.99

(0.00%)

15:57
07/18/18
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Hot Stocks
Breaking Hot Stocks news story on Validus 

Validus trading resumes

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CARA

Cara Therapeutics

$20.00

-1.6 (-7.41%)

15:55
07/18/18
07/18
15:55
07/18/18
15:55
Options
Cara Therapeutics put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 19

    Jul

NCLH

Norwegian Cruise Line

$50.01

2.43 (5.11%)

15:40
07/18/18
07/18
15:40
07/18/18
15:40
Options
Norwegian Cruise Lines options volume is 27X daily average as shares rally »

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KMI

Kinder Morgan

$17.77

0.08 (0.45%)

15:34
07/18/18
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15:34
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Options
Kinder Morgan options imply 4.4% move in share price post-earnings, above median historical move »

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  • 18

    Jul

MDR

McDermott

$17.99

-0.05 (-0.28%)

15:30
07/18/18
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Options
McDermott option volume is 6X daily average and puts lead calls 30:1 »

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  • 31

    Jul

OMC

Omnicom

$70.32

-0.37 (-0.52%)

15:20
07/18/18
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Options
Heavy Omnicom option volume likely adjusts open positions »

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  • 09

    Aug

AXP

American Express

$102.70

1.56 (1.54%)

15:19
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15:19
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Options
American Express options imply 5.3% move in share price post-earnings, above median historical move »

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  • 18

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BPL

Buckeye Partners

$33.37

-1.58 (-4.52%)

15:17
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Moody's changes Buckeye Partners' outlook to negative from stable »

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  • 03

    Aug

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
07/18/18
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Technical Analysis
NYSE market internals summary »

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PZZA

Papa John's

$50.98

-0.56 (-1.09%)

, WEN

Wendy's

$17.53

0.105 (0.60%)

15:13
07/18/18
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15:13
07/18/18
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Periodicals
Papa John's founder held merger discussions with Wendy's, WSJ reports »

Papa John's…

PZZA

Papa John's

$50.98

-0.56 (-1.09%)

WEN

Wendy's

$17.53

0.105 (0.60%)

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  • 18

    Jul

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  • 15

    Aug

CCK

Crown Holdings

$45.16

-0.22 (-0.48%)

15:10
07/18/18
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15:10
07/18/18
15:10
Options
Third day of call buying in Crown Holdings ahead of earnings »

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  • 19

    Jul

BIIB

Biogen

$356.40

1.46 (0.41%)

15:06
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Biogen presented as best idea by Alex Denner, CNBC says »

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  • 24

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PZZA

Papa John's

$51.02

-0.52 (-1.01%)

, WEN

Wendy's

$17.52

0.1 (0.57%)

15:05
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15:05
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Periodicals
Breaking Periodicals news story on Papa John's, Wendy's »

Papa John's founder…

PZZA

Papa John's

$51.02

-0.52 (-1.01%)

WEN

Wendy's

$17.52

0.1 (0.57%)

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  • 18

    Jul

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  • 15

    Aug

IBM

IBM

$144.11

0.65 (0.45%)

, GRPN

Groupon

$4.70

0.07 (1.51%)

15:04
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15:04
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15:04
Earnings
On The Fly: What to watch for in IBM's earnings report »

IBM (IBM) is scheduled to…

IBM

IBM

$144.11

0.65 (0.45%)

GRPN

Groupon

$4.70

0.07 (1.51%)

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