NEW YORK ( TheStreet) -- Starbucks Corporation (Nasdaq: SBUX) hit a new 52-week high Wednesday as it is currently trading at $57.22, above its previous 52-week high of $57.17 with 3.3 million shares traded as of 11:55 a.m. ET. Average volume has been 5.6 million shares over the past 30 days. Starbucks has a market cap of $35.52 billion and is part of the services sector and leisure industry. Shares are up 23.7% year to date as of the close of trading on Tuesday. Starbucks Corporation purchases and roasts whole bean coffees. It operates 6,705 company-operated stores and 4,082 licensed stores in the United States; and 2,326 company-operated stores and 3,890 licensed stores in Canada, the U.K., China, Germany, Thailand, and internationally. The company has a P/E ratio of 33.9, above the average leisure industry P/E ratio of 29.4 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Starbucks as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Starbucks Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.