Starbucks (SBUX 2.05%) reported fourth-quarter earnings on Wednesday, with Q4 profits up a jaw-dropping 34%. The company delivered several other impressive numbers as well, including a 7% increase in global same-store sales and a 13% increase in revenue, no small feat for a company of Starbucks' size. Shares hit a new all-time high yesterday on the news, but have pulled back slightly in trading today.
However, despite the soaring new highs for Starbucks' stock and the company's price-to-earnings ratio near 39, Motley Fool One analyst Jason Moser still views this stock as a strong buy today. He still sees growth ahead, and notes the tremendous amount of cash Starbucks brings in. Jason also expects to see continued dividend increases for the foreseeable future, and strongly believes this is a stock investors can buy and hold on to almost indefinitely, as he sees the demand for that cup of coffee in the morning as an investing thesis that won't be changing anytime soon.
