MML Investors Services LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,640 shares of the coffee company’s stock after purchasing an additional 1,657 shares during the period. MML Investors Services LLC’s holdings in Starbucks were worth $15,814,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Enterprise Trust & Investment Co bought a new stake in shares of Starbucks during the second quarter worth about $25,000. Cowen Prime Services LLC bought a new stake in Starbucks during the 1st quarter worth approximately $26,000. Northern Oak Wealth Management Inc. raised its stake in shares of Starbucks by 95.7% in the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after purchasing an additional 177 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Starbucks in the second quarter worth approximately $32,000. Finally, C J Advisory Inc bought a new position in shares of Starbucks in the first quarter valued at approximately $34,000. 71.20% of the stock is currently owned by institutional investors.
In related news, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the completion of the transaction, the director now owns 28,390 shares of the company’s stock, valued at approximately $2,402,929.60. The disclosure for this sale can be found here. Insiders have sold 142,767 shares of company stock valued at $13,690,565 in the last quarter. Company insiders own 3.98% of the company’s stock.
Several research analysts recently issued reports on the company. Oppenheimer lifted their target price on Starbucks from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Evercore ISI started coverage on Starbucks in a research note on Tuesday, June 11th. They set an “in-line” rating and a $82.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, June 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Starbucks in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $89.53.
NASDAQ SBUX traded down $0.01 on Wednesday, hitting $90.34. 384,264 shares of the stock traded hands, compared to its average volume of 6,038,327. The firm has a market capitalization of $112.71 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.56 and a beta of 0.56. The business’s fifty day moving average is $95.72 and its two-hundred day moving average is $82.60. Starbucks Co. has a 12 month low of $54.10 and a 12 month high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.59%. Starbucks’s dividend payout ratio is presently 59.50%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Featured Story: Bond
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.