Starbucks Falls Slightly in Spite of Upgrade
Despite an upgrade by Oppenheimer, Starbucks (NASDAQ:SBUX) suffered a dip of 0.3 percent a day before its FQ1 report.
Thanks to its recent move to diversify its menu and the power it wields to raise prices without losing customers, Starbucks has been experiencing strong sales growth. Profits, however, have been held back by rising coffee prices.
Sales momentum is good, according to Janney, and K-Cup (NASDAQ:GMCR) sales could be better than expected.
Here’s how these stocks are trading now:
Starbucks Corp. (NASDAQ:SBUX): SBUX shares recently traded at $47.84, up $0.19, or 0.4%. They have traded in a 52-week range of $30.75 to $48.39. Volume today was 6,628,892 shares versus a 3-month average volume of 5,677,440 shares. The company’s trailing P/E is 29.53, while trailing earnings are $1.62 per share.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR): GMCR shares recently traded at $51.05, up $0.45, or 0.89%. They have traded in a 52-week range of $32.73 to $115.98. Volume today was 2,319,357 shares versus a 3-month average volume of 7,886,210 shares. The company’s trailing P/E is 38.97, while trailing earnings are $1.31 per share.