Starbucks (NASDAQ:SBUX) Reaches New 12-Month High – What’s Next?

Starbucks Co. (NASDAQ:SBUX) reached a new 52-week high on Thursday . The stock 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.

Analyst Ratings Changes

Several research firms have weighed in on SBUX. Citigroup lifted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

The company’s 50 day simple moving average is $99.13 and its two-hundred day simple moving average is $96.77. The stock has a market capitalization of $128.74 billion, a P/E ratio of 36.56, a PEG ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business earned $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $62,000. Dakota Wealth Management lifted its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. lifted its holdings in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares during the period. Maia Wealth LLC lifted its holdings in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after buying an additional 7,596 shares during the period. Finally, Investment Management Corp of Ontario lifted its holdings in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares during the period. 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.