I bought $SBUX last year and averaged down couple of times when it declined toward $69. Yesterday I took all of my profits.My average share price was around $72. My current poistion in $SBUX is zero.
I sitll think SBUX is the best company in its business and I am sure in the long run it will shine. However, as it touched 80.4 and then sold off with the best earnings and with consecutive 18 Q of positive earnings I am sure we are close to the top, not just SBUX but the whole market. Visa lost, Amazon lost, Panera lost, Dunkin lost , etc... Market is tired and we are entering late bull market phase.
Also, at some points I was sitting on almost 2k of $SBUX shares , much more than I am willing to invest currently in just one company. Other thing, I am mostly day/swing trader and I don't have patience nor nerves to watch my portfolio going to red for couple of months and wait it to return "one day"
I am definitely going to re-enter $SBUX but not now. I really think it is great company and Howard Schultz is the best CEO in the world.
I would have sold too. I was early in my assumption that the coffee price increase would effect forward earnings. This is why I didn't buy SBUX in Jan/Feb. Turns out I was right, but 6 months early. Had I purchased the stock I wouldn't have done very well. If I wasn't short so much already in other stocks, I'd go short SBUX now.