Shares of Starbucks and Keurig Green Mountain Dip After Wells Fargo Note
Earlier on Thursday, Wells Fargo analyst Bonnie Herzog issued a note in which she maintained an Outperform rating on Starbucks (NASDAQ: SBUX) citing Nielsen data.
Wells Fargo does not currently cover Keurig Green Mountain (NASDAQ: GMCR).
Shares of Starbucks and Keurig are down ~0.8 and ~0.5 percent, respectively, following Herzog's note. Highlights from the Nielsen data are listed below.
- U.S. total market share in packaged coffee up 140 bps year-over-year to 12.2 percent
- Single-serve pod share up 15 percent year-over-year
- Dollar sales of packaged coffee excluding pods up 6.1 percent due to 11.2 percent unit growth and 4.5 percent pricing increase.
- Pod market share fell from 40.6 percent a year ago to 34.1 percent
- Dollar sales down 4.2 percent
Latest Ratings for SBUX
|Jul 2016||Goldman Sachs||Maintains||Buy|
|Jul 2016||BTIG Research||Maintains||Buy|
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