Current market volatility underscores how important it is to have some of your money in secure stocks. High-growth stocks come with risk, and many investors are feeling the other edge of that sword in today's tech-hostile environment.

That's not to say that tech stocks won't make a comeback or that you can't find hidden gems even in this atmosphere. I would say that now's a great time to grab stocks whose prices are beaten down -- as long as they offer real opportunities for growth and aren't value traps. If you have a long timeline, many high-growth stocks offer serious potential for gains. Even just one holding that soars over time can counteract others that are losing value. 

One company that is demonstrating its worth and potential right now is coffee titan Starbucks (SBUX -0.17%) -- its stock is trading at a dirt-cheap valuation as well as yielding a solid dividend. Let's dive into the details.

A Starbucks employee putting on a green apron with others watching.

Image source: Starbucks.

America's favorite coffee

Starbucks revolutionized the coffee industry, which was barely even an industry before it came along. In some sense, it almost is the industry, because it doesn't have any competition that comes close to it in terms of size, scale, and focus. 

In the second fiscal quarter ended April 3, U.S. comparable-store sales (or "comps") increased 12% year over year while total revenue grew by 17%. Globally, total comps increased 7%, and revenue rose 15%. That included expected setbacks in China, which has been experiencing a pandemic resurgence, and where comps decreased 23%.

However, Starbucks still sees huge opportunities for growth, both in the U.S. and abroad. Management is taking a wide approach to increasing sales, coming at it from various angles that could together generate high growth for many years to come.

One way is through increased store count. Starbucks already has nearly 17,000 stores in North America and just over 17,000 overseas -- a staggering amount. Yet, it has plans to reach 55,000 by 2030. It opened more than 300 stores in just the second quarter alone.

Another aim is to increase engagement. Returning and interim CEO Howard Schultz said that due to shifting trends from the pandemic, "We've been unable to meet the relentless demand we're seeing in our U.S. stores as seamlessly as our customers and partners expect and candidly deserve."

First of all, it should jump out that regardless of its seeming saturation, Starbucks is seeing "relentless demand." He also noted that a full 70% of sales came through mobile and drive-thru channels, trends accelerated by the pandemic.

Management sees where this is going, and Schultz said that 90% of new stores will be drive-thrus; even more, they'll be intelligently designed to use technology, such as more handheld point-of-sale devices to create greater efficiency and improve profitability. It's investing in digital to overhaul and elevate the Starbucks experience for both workers and customers.

Dirt-cheap valuation plus growing dividend 

Starbucks stock is down more than 30% year over year, and it's trading at a price-to-earnings ratio of 22. That seems like quite a discount as compared with its growth opportunities. 

At the current price, its dividend yields 2.4%, well above the S&P average of 1.46%. As for how its dividend has grown, check it out as compared with other food companies that are typically considered great dividend stocks: PepsiCo, Coca-Cola, and McDonald's.

SBUX Dividend Chart

SBUX Dividend data by YCharts

Note that this is the actual dividend, not the yield, which can vary along with prices. But take a look at this chart as well for some food for thought.

SBUX Dividend Yield Chart

SBUX Dividend Yield data by YCharts

These charts suggest that Starbucks' dividend could add a lot more income to your wallet in the future. If you're looking for stable, passive income with growth opportunities, Starbucks is an excellent candidate to consider.