Starbucks
Starbucks isn’t everyone’s cup of tea (er, coffee) because of its price point, but many are certainly hooked with its pricey beverage offerings. Magellan Asset Management, which has been investing in the chain since 2016, has raised its stake in the company by buying another 690,989 shares.
This means that Starbucks, which has a market cap of over $117 billion, accounts for 6.5 percent of its portfolio. Experts remain positive and hopeful about the company’s stocks as everyone endures the COVID-19 pandemic even though the well-known coffee brand suffered a blow in 2020.
