Should Investors Follow This Billionaire Investment Fund and Buy Starbucks Stock?
Starbucks (NASDAQ: SBUX), the iconic coffee juggernaut, has caught the attention of an elite hedge fund determined to revamp the faltering business.
The fund, Elliott Management, is an investment industry whale. It acquires stakes in public companies and drives operational improvements in their businesses, making it an "activist" investor. It does so by securing board seats, ousting executive teams, and sometimes taking companies private. Using this and other strategies, the fund has notched remarkable returns. From 1977 to 2022, its annualized return was 13.5%, nearly 2% higher than the S 500.
Elliott is now investing in Starbucks, seeing an opportunity to help return the company to its former glory. The coffee giant has been an awful investment over the last three years, with shares down 19% while the S 500 is up 22%.
Source Fool.com
Starbucks Corp. Stock
The stock is an absolute favorite of our community with 29 Buy predictions and no Sell predictions.
As a result the target price of 93 € shows a slightly positive potential of 7.53% compared to the current price of 86.49 € for Starbucks Corp..
