Massachusetts Financial Services Co. MA Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Massachusetts Financial Services Co. MA decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,428,388 shares of the coffee company’s stock after selling 142,198 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Starbucks were worth $130,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBUX. Strategic Financial Concepts LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $62,000. Arizona State Retirement System raised its stake in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks during the 4th quarter worth $258,000. Finally, OFI Invest Asset Management purchased a new stake in Starbucks during the 4th quarter worth about $9,497,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Trading Down 7.0 %

Shares of SBUX stock opened at $82.10 on Friday. The company has a market capitalization of $93.26 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s 50 day moving average is $105.32 and its two-hundred day moving average is $99.36. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the business posted $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.97%. Starbucks’s dividend 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.