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

Shares of Starbucks Co. (NASDAQ:SBUX) hit 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. The stock had previously closed at $112.49.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic reissued 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. Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Performance

The business has a fifty day simple moving average of $99.13 and a 200 day simple moving average of $96.77. The stock has a market cap of $128.74 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 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 period last year, the firm earned $0.90 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Institutional Trading of Starbucks

Several large investors have recently modified their holdings of SBUX. Norges Bank acquired a new position in Starbucks in the fourth quarter worth about $1,244,812,000. Capital World Investors lifted its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during 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 buying an additional 7,598,146 shares during the last quarter. FMR LLC raised its holdings in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.