Starbucks (NASDAQ:SBUX) Coverage Initiated by Analysts at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada began coverage on shares of Starbucks (NASDAQ:SBUX) in a research note issued on Friday. The firm set an “outperform” rating and a $115.00 price target on the coffee company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.89% from the stock’s previous close.

SBUX has been the topic of several other reports. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.23 on Friday. The company has a market cap of $112.45 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.89 and a beta of 0.97. The stock’s fifty day moving average price is $96.45 and its two-hundred day moving average price is $86.03. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. On average, equities analysts predict that Starbucks will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Hedge funds have recently made changes to their positions in the business. Quent Capital LLC lifted its stake in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. Spirepoint Private Client LLC acquired a new stake in Starbucks during the first quarter worth approximately $371,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the first quarter valued at approximately $415,167,000. Allstate Corp increased its stake in shares of Starbucks by 43.0% during the first quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock worth $317,000 after purchasing an additional 1,042 shares during the period. Finally, Jacobi Capital Management LLC lifted its holdings in Starbucks by 2.5% during the 1st quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock worth $1,475,000 after purchasing an additional 401 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Company Profile

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.