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

Starbucks (NASDAQ:SBUX) had its price objective increased by equities researchers at Royal Bank of Canada from $95.00 to $100.00 in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the coffee company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.61% from the stock’s previous close.

Other analysts have also issued research reports about the company. Wells Fargo & Company reduced their target price on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $103.00 to $85.00 in a research note on Wednesday, April 30th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, BMO Capital Markets dropped their target price on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $98.12.

Starbucks Stock Performance

Shares of SBUX traded up $3.25 on Wednesday, reaching $94.68. The stock had a trading volume of 2,676,339 shares, compared to its average volume of 11,014,847. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market capitalization of $107.60 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a 50-day simple moving average of $84.34 and a 200-day simple moving average of $95.03.

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

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in Starbucks in the first quarter worth approximately $27,000. Graney & King LLC bought a new position in Starbucks in the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks in the 1st quarter valued at $29,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.