ITG Comments On Starbucks' Slowing Americas Growth Creates Investor Worry, Stock Down ~3%

Shares of Starbucks

are getting clobbered Tuesday afternoon following some concerning comments from analyst Steve West at ITG Investment Research. The stock last traded down nearly 3 percent to $77.45. West noted, "Coming off two very strong quarters, our proprietary data indicates the chain's momentum may have slowed this quarter." The ITG analyst specifically focused on upside momentum with Starbucks' Americas segment. West is currently modeling for first-quarter same-store sales within the America's segment to be up about 5-6 percent. The analyst consensus estimate for Starbucks' quarterly comps is sitting around 7 percent. Starbucks shares hit an intraday low at $76.68, marking a more than 3.8 percent decline from Monday's closing price. Shares of Starbucks had not been down so sharply since all the way back in October of 2012.