5 Best Food Stocks To Buy Now

01. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 55

Based in Seattle, Washington, Starbucks Corporation (NASDAQ:SBUX) was established in 1971. Starbucks Corporation (NASDAQ:SBUX), together with its subsidiaries, is a global roaster, marketer, and retailer of specialty coffee. At the close of Q2 2022, 55 hedge funds out of the 895 tracked by Insider Monkey were long Starbucks Corporation (NASDAQ:SBUX). The total stakes of these hedge funds amounted to $1.43 billion.

Wall Street analysts see an upside to Starbucks Corporation (NASDAQ:SBUX). On September 22, Joshua Long, a Stephens analyst, began following Starbucks Corporation (NASDAQ:SBUX) and gave it an Equal Weight rating and a $91 price target. The analyst writes in a research note that while near-term difficulties in North America and China pose barriers to the company’s traffic and top line, he prefers to remain neutral because of the stock’s long-term investment story. On September 16, Piper Sandler analyst Nicole Miller Regan raised his price target on Starbucks Corporation (NASDAQ:SBUX) to $92 from $84 and kept a Neutral rating on the shares.

Here is what Matrix Asset Advisors specifically said about Starbucks Corporation (NASDAQ:SBUX) in its Q2 2022 investor letter:

“Starbucks Corporation (NASDAQ:SBUX) is a premiere global coffee brand supported by over 32,600 stores across the world. The firm has a long history of beverage innovation and strong employee/barista relations with the firm paying above-market wages and benefits. Starbucks has a strong balance sheet and finances. The company generates steady and consistent cash flow, selling millions of cups of premium coffee every day. The company’s share price declined in part due to its large business in China which was largely shut down due to Covid restrictions and because of rising commodity and labor costs. We think the shares are attractively priced for a company that should grow 10% plus per year with a dividend yield of 2.6% at our average cost.”

You can also take a look at 11 Best Big Data Stocks To Invest In and 13 Best Semiconductor Stocks To Buy.

Follow Insider Monkey on Twitter