Shares of Starbucks were down Tuesday but a portfolio manager and a strategist say that it's a buying opportunity.
A lot of caffeine and cheaper input prices weren't enough to save Starbucks' stock on Tuesday.
Sales of the coffee giant dropped more than 2.5% after ITG Investment Research said the company's momentum appears to be slowing this quarter. Within just 15 minutes of the market's open, 2.5 million shares of the café chain changed hands. That's a lot for the stock given is 30-day average daily volume of 4.6 million shares.
Still, this has been a very good year for Starbucks. Despite Tuesday's selloff, the stock is up nearly 45% year-to-date. And, in the last five years, Starbucks has gained 714%.
On CNBC's Street Signs' Talking Numbers segment, First Asset Investment Management portfolio manager John Stephenson says the ITG report meant nothing; he adamantly insists Starbucks is still a buy.
"This is one stock youRead More »from Why this portfolio manager is calling Starbucks ‘a home run’