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Shares of Starbucks Corporation (NASDAQ: SBUX) have had a straight upward run in the past few months, up over 27 percent year-to-date and trading near their all-time highs.
Nicole Miller Regan, Piper Jaffray, was on CNBC Tuesday to discuss what’s driving the rally in the stock.
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The Concerns
“When you look at Starbucks a couple of things, technology you can practically eat online in terms of their mobile app order and pay,” Regan said. “Also there’s some concerns sometimes with investors about restaurant sales and here you can go through the grocery app, pick up coffee and bring it home and finally people are worried about the avian flu and they are selling coffee.”
Should Do Massive Share Repurchase
Regan was asked if Starbucks can continue to grow at the same pace as it has in the past. She replied, “I think so and there’s just a lot of levers they can pull in terms of the U.S. Comp, they have food, they have delivery, they have mobile order and they have new products in […] like Flat White, extremely successful, but they can also grow earnings with their balance sheet. This is a company that can and should do massive share repurchase.”
The Worry
On what she would worry about most if she had to worry about the company, Regan said, “I would worry more about investors’ concerns. Sometimes the expectations get ahead of the stock and I would just worry about the perception from time to time due to that.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.