Massachusetts Financial Services Co. MA Has $329 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Massachusetts Financial Services Co. MA raised its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,604,673 shares of the coffee company’s stock after purchasing an additional 99,416 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Starbucks were worth $328,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Starbucks in the fourth quarter valued at approximately $1,222,931,000. Moneta Group Investment Advisors LLC raised its position in Starbucks by 115,334.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after purchasing an additional 8,486,281 shares during the last quarter. Morgan Stanley raised its position in Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares during the last quarter. BlackRock Inc. raised its position in Starbucks by 4.5% in the 2nd quarter. BlackRock Inc. now owns 80,373,017 shares of the coffee company’s stock worth $7,961,751,000 after purchasing an additional 3,459,390 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Starbucks in the 1st quarter worth approximately $190,270,000. 70.13% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.5 %

NASDAQ SBUX opened at $92.51 on Tuesday. The company’s 50 day moving average is $95.01 and its 200-day moving average is $96.73. The firm has a market cap of $104.74 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. Starbucks Co. has a 12-month low of $89.21 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $0.75 EPS. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 4.07 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.57 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.46%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Activity

In other news, EVP Sara Kelly sold 250 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $104.45, for a total value of $26,112.50. Following the completion of the sale, the executive vice president now owns 47,532 shares of the company’s stock, valued at approximately $4,964,717.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 504 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total transaction of $53,252.64. Following the completion of the sale, the chief financial officer now directly owns 75,027 shares in the company, valued at approximately $7,927,352.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sara Kelly sold 250 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $104.45, for a total transaction of $26,112.50. Following the completion of the transaction, the executive vice president now owns 47,532 shares of the company’s stock, valued at $4,964,717.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,754 shares of company stock valued at $807,565. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SBUX shares. UBS Group dropped their price objective on shares of Starbucks from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. Wedbush reaffirmed a “neutral” rating and set a $95.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Starbucks in a report on Thursday, October 19th. They set a “buy” rating and a $118.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.43.

Read Our Latest Research Report on SBUX

Starbucks Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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