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Starbucks Corp. Stock Growth Likely to have Reached its Peak

12/28/2022 2:43 PM

Shares of Starbucks Corp., one of the largest companies in the world, which owns the chain of coffee houses of the same name, are moving in a corrective trend at 99.00.

Leading analysts, who had long held a positive position regarding the issuer, began to change their minds: Jefferies Group LLC was the first to react to the dynamics of the trading instrument, downgrading its rating to Neutral from Buy: the growth of quotations, which since the end of spring has already amounted to 40.0%, is a serious barrier to further purchases, as the profit potential from further operations becomes smaller. Another negative factor is the poor earnings forecast, which amounted to 0.7644 dollars per share, below 0.8100 dollars in the previous quarter. Experts believe that the company's papers will trade at current levels for a long time, reducing the temporary component of profitability.

The corporation's financial report will be released on February 2, and the forecast for quarterly revenue is 8.77B dollars, up from 8.40B dollars in the previous quarter. It is worth considering that this figure is now renewed frequently due to the high number of coronavirus infections in China, which may decrease by the publication date. The Board of Directors approved the next dividend payment of 0.53 dollars per share, which investors will receive on February 24, and the registry close is scheduled for February 9.

On the daily chart of the asset, the trading instrument is moving in a local ascending corridor, reversing downwards.

Technical indicators gave a new sell signal: the range of EMA fluctuations on the Alligator indicator does not expand, and the histogram of the AO oscillator forms downward bars in the sell zone.

Resistance levels: 102.00, 107.50. | Support levels: 96.10, 90.00.

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