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

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

Analysts Set New Price Targets

A number of analysts recently issued reports on SBUX shares. Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

The stock has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm has a 50 day moving average of $99.72 and a 200-day moving average of $97.15.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the fourth quarter valued at about $25,000. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Company Profile

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.