Starbucks Corporation $SBUX Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 22.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,578,977 shares of the coffee company’s stock after acquiring an additional 1,026,056 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Starbucks were worth $511,202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliance Wealth Advisors LLC increased its stake in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after purchasing an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in shares of Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after buying an additional 117 shares during the last quarter. Diligent Investors LLC grew its stake in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co increased its holdings in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the period. Finally, Avalon Trust Co raised its stake in shares of Starbucks by 5.5% in the first quarter. Avalon Trust Co now owns 2,384 shares of the coffee company’s stock worth $234,000 after purchasing an additional 124 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX opened at $84.78 on Friday. The firm has a fifty day moving average price of $83.76 and a 200 day moving average price of $87.58. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a market cap of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 151.22%.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Morgan Stanley set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $101.44.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

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.