Starbucks Co. (NASDAQ:SBUX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 48.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,570,586 shares of the coffee company’s stock after selling 1,453,593 shares during the period. Massachusetts Financial Services Co. MA owned about 0.14% of Starbucks worth $153,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Riverview Trust Co boosted its stake in Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the period. Essex Savings Bank grew its position in shares of Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after acquiring an additional 112 shares during the last quarter. DT Investment Partners LLC boosted its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. Childress Capital Advisors LLC raised its holdings in shares of Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC raised its stake in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $102.50 on Friday. The business’s 50-day simple moving average is $97.11 and its 200-day simple moving average is $87.10. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60. The firm has a market cap of $116.21 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.90 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.