Why This Investor Plans To Hold Starbucks Stock Long-Term

Ritholtz Wealth Management CEO Josh Brown is staying long Starbucks Corp SBUX stock amid recent weakness, he said Thursday on CNBC's "Fast Money Halftime Report."

Although Brown bought Starbucks stock at the height of the pandemic and has seen gains of close to 100%, he isn't cashing in anytime soon. He's staying long the stock and doesn't have any plans to exit, he told CNBC.

"I think Starbucks will remain one the best operators in the world and I think this is a company that will continue to pay dividends in the years to come and continue to find new ways to innovate, increase profits and increase revenue," Brown said. "So I want to be a shareholder here for the long-term."

See Also: Starbucks Stock Plummets On Day After Institution Loads Shares

SBUX Price Action: Starbucks has traded as high as $126.32 and as low as $81.75 over a 52-week period.

The stock ended Thursday's session slightly higher at $114.67. 

Photo: Eak K. from Pixabay.