Starbucks (NASDAQ:SBUX) Sets New 52-Week High – Time to Buy?

Starbucks Co. (NASDAQ:SBUX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $113.50 and last traded at $113.34, with a volume of 6340640 shares. The stock had previously closed at $112.49.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. Wells Fargo & Company increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

The stock has a market cap of $126.94 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $99.72 and a two-hundred day simple moving average of $97.15.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.90 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Starbucks

A number of hedge funds have recently modified their holdings of the stock. TrinityPoint Wealth LLC boosted its position in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR boosted 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 purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel boosted its position in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC boosted its position in Starbucks by 10.6% during the fourth 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 last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.