Starbucks (NASDAQ:SBUX) Reaches New 1-Year High – Here’s Why

Starbucks Co. (NASDAQ:SBUX) shares hit a new 52-week high during 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Barclays boosted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Down 0.3 %

The company has a fifty day moving average price of $102.67 and a 200 day moving average price of $98.68. The stock has a market cap of $131.09 billion, a PE ratio of 37.23, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 company posted $0.90 EPS. As a group, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. TrinityPoint Wealth LLC boosted its holdings in shares of Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after purchasing an additional 89 shares during the period. Pioneer Trust Bank N A OR lifted its holdings in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC lifted its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after buying an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its stake in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after acquiring an additional 96 shares during the period. Finally, Foster Dykema Cabot & Partners LLC boosted its stake in shares of Starbucks by 10.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.