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

Starbucks Co. (NASDAQ:SBUX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $117.46 and last traded at $115.41, with a volume of 9222086 shares changing hands. The stock had previously closed at $115.81.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. UBS Group boosted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their price objective 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Down 0.3 %

The company’s fifty day moving average is $103.55 and its 200 day moving average is $98.89. The firm has a market cap of $126.87 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $0.90 EPS. On average, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Norges Bank bought a new stake in Starbucks during the fourth quarter worth $1,244,812,000. Capital World Investors raised its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. Wellington Management Group LLP raised its position in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC raised its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the period. 72.29% of the stock is 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.