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

Massachusetts Financial Services Co. MA cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,428,388 shares of the coffee company’s stock after selling 142,198 shares during the period. Massachusetts Financial Services Co. MA owned about 0.13% of Starbucks worth $130,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC acquired a new stake in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System grew its stake in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $265,000. Wernau Asset Management Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $258,000. Finally, OFI Invest Asset Management purchased a new stake in Starbucks during the fourth quarter worth $9,497,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Performance

Shares of Starbucks stock opened at $82.10 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $93.26 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average of $105.32 and a 200 day moving average of $99.36.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. Starbucks’s payout ratio is currently 78.71%.

About Starbucks

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.