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By Market News Video Staff, Tuesday, November 16, 8:26 AM ET
Starbucks (NASDAQ:SBUX) has announced a doubling of its share repurchase program. Its board approved a buyback of up to 10 million shares, in addition to the 10.1 million shares that were available for buyback at the fiscal 2010 year-end under existing authorization.
The company said the additional repurchase authorization reflects the strength of its balance sheet.
Starbucks is the top holding of the Dynamic Food & Beverage Portfolio (AMEX:PBJ), at 5.97% of the fund.
Coca-Cola Enterprises (NYSE:CCE) is next in the fund, at 5.89%, followed by Yum! Brands (NYSE:YUM), at 5.51% of the fund.
Kroger (NYSE:KR) and Coca-Cola (KO) are the fourth- and fifth-largest holdings.
This Article's Word Cloud:AMEXBeverageBrandsCocaColaDynamicEnterprisesFoodKrogerNASDAQNYSEPortfolioSBUXStarbucksadditionadditionalannouncedapprovedauthorizationavailablebalanceboardbuybackcompanydoublingexistingfifthfiscalfollowedfourthfundholdingholdingslargestmillionnextprogramreflectsrepurchasesaidsharesharessheetstrengththatunderwereyear
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