Starbucks (SBUX) Receives a Buy from RBC Capital

RBC Capital analyst Christopher Carril maintained a Buy rating on Starbucks (SBUX) yesterday and set a price target of $89.00. The company’s shares closed last Thursday at $75.78.

According to, Carril is a 3-star analyst with an average return of 4.2% and a 56.7% success rate. Carril covers the Services sector, focusing on stocks such as Restaurant Brands International, Texas Roadhouse, and Domino’s Pizza.

Currently, the analyst consensus on Starbucks is a Moderate Buy with an average price target of $82.95, which is an 8.2% upside from current levels. In a report issued on July 20, Wells Fargo also initiated coverage with a Buy rating on the stock with a $92.00 price target.

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Based on Starbucks’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6 billion and net profit of $328 million. In comparison, last year the company earned revenue of $6.82 billion and had a net profit of $1.37 billion.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBUX in relation to earlier this year. Most recently, in May 2020, Mellody Hobson, a Director at SBUX bought 46,778 shares for a total of $719,913.

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores. The Channel Development segment include sales of packaged coffee, tea, and ready-to-drink beverages to customers outside of its company-operated and licensed stores. The company brands include Evolution Fresh, Teavana, Tazo Tea and Seattle’s Best. Starbucks was founded by Jerry Baldwin and Howard D. Schultz on November 4, 1985 and is headquartered in Seattle, WA.

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