Nope, I've never been to a Starbucks (NASDAQ: SBUX) before, and I don't plan on entering one soon; coffee doesn't interest me in the least. That doesn't mean I can't see what's going on with its stock, however. I'm always on the lookout for stocks of big brand names that have had incredible runs in the past but are currently experiencing a nice pullback in share price.

Over the past year, Starbucks has performed very poorly. As the company's chart indicates, the stock is out of favor. But is it due to come back? The chart I just linked to shows that the stock is below its 50-day moving average, but not too far below. It also shows a couple of high-volume buying days, compared to one massive-volume day of selling. In addition, the stock is currently well below its 200-day moving average. At a forward-looking P/E of less than 20, and at a very reasonable PEG ratio, Starbucks is looking very attractive to me.

But, the company is experiencing a lot of competition from Dunkin' Donuts, McDonald's (NYSE: MCD), and Burger King (NYSE: BKC) -- yep, fast-food joints are pushing coffee. Plus, the stock is flirting again with its 52-week low in an overall terrible equities market. Bottom line: Keep this one on the watch list, but be careful about putting money to work here just yet. In my opinion, I'd rather see some strength in the stock before stepping in with my portfolio's capital.

Disclosure: I am looking at Starbucks as a potential buying opportunity, and could purchase shares of the stock sometime after this post.