SBUX - 3 Top Stocks to Buy Hand Over Fist
2024-07-10 05:15:00 ET
Investing in growing companies is the ticket to building lasting wealth in the stock market. It's even better when you can buy stocks of strong businesses at a discount, which can set up superior returns over the long term. Let's look at three top consumer brands that you can buy right now at attractive valuations.
Starbucks (NASDAQ: SBUX) has a strong global presence, with nearly 39,000 stores open at the end of its recent quarter. The company's consistent growth over the years has delivered outstanding returns to investors, but recent weakness in comparable-store sales sent the stock down 39% from its previous highs. This gives investors an opportunity to buy this global brand at a more reasonable price that could set it up for market-beating returns.
Starbucks reported a surprising 4% decline in comp sales last quarter. The company's uncharacteristic sales miss reflects a soft consumer spending environment, as other retailers are also reporting weaker-than-expected sales. However, the company's renewed focus on driving down costs and improving efficiency should lead to better earnings growth that can eventually send the stock back up.
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3 Top Stocks to Buy Hand Over Fist