What Did Jim Cramer Say About These 19 Stocks Recently?

12. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 86

A caller expressed his worries about Starbucks Corporation (NASDAQ:SBUX) wondering if it was time to sell. Jim Cramer reassured him, emphasizing that the stock remains a hold:

“Oh no, you want to own Starbucks. Brian Nichols is terrific. The stock shot up to 115—that was a big move, a parabolic move. It’s coming back down, but it’s more controlled. I think Brian’s going to do terrifically. I’m getting my coffee in four minutes; I don’t know about you. I think he’s instituting the right policies. I think he really knows what he’s doing.”

Invesco Growth and Income Fund stated the following regarding Starbucks Corporation (NASDAQ:SBUX) in its Q3 2024 investor letter:

“Starbucks Corporation (NASDAQ:SBUX): The coffee retailer has struggled with China’s economic softness, declining sales and weaker US store traffic that have hampered revenues and profit margins. However, we believe the company has several positive, long-term catalysts, including strong growth in store count, better labor relations, improving productivity from labor, technology and innovation, and easier future earnings comparisons. We believed a management change was imminent, and shortly after we purchased the stock, Starbucks named a new CEO, which was seemingly greeted enthusiastically by investors.”