Royal Bank of Canada Issues Positive Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its target price increased by Royal Bank of Canada from $95.00 to $100.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have an outperform rating on the coffee company’s stock.

A number of other analysts have also recently commented on the stock. Cowen cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective on the stock in a research note on Wednesday, April 9th. Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. The Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Finally, Citigroup cut their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $98.96.

Starbucks Price Performance

SBUX stock opened at $93.26 on Wednesday. The firm has a 50-day moving average of $85.17 and a 200 day moving average of $94.93. The company has a market cap of $105.98 billion, a P/E ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC raised its stake in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR increased its position in Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after acquiring an additional 92 shares during the last quarter. Wintrust Investments LLC lifted its holdings in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares during the period. Kuhn & Co Investment Counsel boosted its position in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its stake in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the period. 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.