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Shares of Starbucks and Keurig Green Mountain Dip After Wells Fargo Note

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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.

Starbucks

  • 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.

Keurig

  • 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

DateFirmActionFromTo
Jul 2019MaintainsNeutral
Jul 2019Initiates Coverage OnBuy
Jul 2019DowngradesOutperformNeutral

View More Analyst Ratings for SBUX
View the Latest Analyst Ratings

Posted-In: Bonnie Herzog Wells FargoAnalyst Color News Reiteration Retail Sales Analyst Ratings

 

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