Starbucks (NASDAQ:SBUX) Given New $100.00 Price Target at Royal Bank of Canada

Starbucks (NASDAQ:SBUX) had its target price hoisted by research analysts at Royal Bank of Canada from $95.00 to $100.00 in a report released on Wednesday, Marketbeat reports. The brokerage presently has an “outperform” rating on the coffee company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 4.83% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. UBS Group cut their price target on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Citigroup cut their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, TD Cowen restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.12.

Starbucks Stock Up 4.3%

Shares of NASDAQ:SBUX opened at $95.39 on Wednesday. The firm has a fifty day moving average of $84.61 and a two-hundred day moving average of $95.03. The firm has a market capitalization of $108.40 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Equities research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the period. Capital World Investors increased its holdings in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.