Companies that robustly buy back stock may fuel Wall Street's next move higher. That was the message Jim Cramer drove home in his Sunday night column for Investing Club members, which prompted us to examine our holdings' share repurchasing activity. Most companies in Jim's Charitable Trust, the portfolio we use for the Club, buy back stock in some capacity.
76% Starbucks is fourth on this list despite only buying back stock during the first half of its fiscal year 2022 which ended Oct. 2. Howard Schultz paused the repurchase program in April when he came back as interim CEO, saying he wanted to invest more of the coffee chain's profits "into our people and our stores." However, buybacks resumed in the first quarter of fiscal 2023, according to a regulatory filing. Starbucks had a market value of $117.2 billion.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »