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

Starbucks (NASDAQ:SBUX - Free Report) had its price objective increased by Royal Bank of Canada from $95.00 to $100.00 in a report released on Wednesday morning, Marketbeat reports. They currently have an outperform rating on the coffee company's stock.

SBUX has been the subject of several other reports. Stifel Nicolaus dropped their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. TD Securities reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Wednesday. TD Cowen reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. 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. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus target price of $98.96.

Starbucks Stock Down 1.1%

Shares of SBUX traded down $1.05 during mid-day trading on Wednesday, hitting $94.34. 4,084,816 shares of the company's stock were exchanged, compared to its average volume of 11,042,270. The firm has a market cap of $107.21 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock's 50-day simple moving average is $84.61 and its 200-day simple moving average is $95.03. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during 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%. Starbucks's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Analysts forecast that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter valued at $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $27,000. Hughes Financial Services LLC bought a new stake in Starbucks during the 1st quarter valued at $27,000. Finally, CBIZ Investment Advisory Services LLC raised 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 last quarter. 72.29% of the stock is currently owned by 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.