NEW YORK (TheStreet) -- Starbucks (SBUX) - Get Report shares are higher 0.47% to $55.41 in Tuesday's pre-market trading session immediately following the beverage giant's announcement of a new portfolio of cold coffee offerings.
"For over forty years we have perfected the craft of roasting and brewing the finest hot coffee and while we have always offered our customers new options in cold coffee, nothing will compare to the pace of flavor, craft and brewing innovation we will see in the next few years," CEO Howard Schultz said.
Starting today, the chain will begin rolling out Nitro Cold Brew, a beverage that infuses nitrogen into its cold-brewed coffee, at seven U.S. cities including New York and San Francisco. Other offerings include Cold Brew with Vanilla Sweet Cream and Starbucks Doubleshot on Ice.
Overall, the company is continuing to make a greater push into the cold coffee market as it anticipates the cold coffee category to double in the next three years. During the fourth quarter of 2015, it saw a 20% growth in its iced portfolio, boosted by the introduction of Cold Brew nationwide.
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Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: SBUX