MML Investors Services LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,995 shares of the coffee company’s stock after acquiring an additional 7,145 shares during the period. MML Investors Services LLC’s holdings in Starbucks were worth $4,135,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Starbucks by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock worth $1,764,739,000 after purchasing an additional 1,210,393 shares in the last quarter. Capital International Investors boosted its stake in Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Geode Capital Management LLC boosted its stake in Starbucks by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock worth $974,952,000 after purchasing an additional 319,533 shares in the last quarter. Polen Capital Management LLC boosted its stake in Starbucks by 1.1% in the fourth quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock worth $681,882,000 after purchasing an additional 124,676 shares in the last quarter. Finally, Parnassus Investments CA acquired a new position in Starbucks in the third quarter worth $498,863,000. Hedge funds and other institutional investors own 73.52% of the company’s stock.
In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock valued at $14,243,602 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.
SBUX has been the topic of a number of recent analyst reports. Tigress Financial initiated coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating on the stock. Piper Jaffray reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research note on Friday, January 5th. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective on the stock. in a research note on Monday, January 8th. Barclays reissued an “equal weight” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Starbucks in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.05.
NASDAQ SBUX opened at $58.34 on Friday. The stock has a market capitalization of $82,691.45, a P/E ratio of 28.32, a P/E/G ratio of 1.63 and a beta of 0.64. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. equities research analysts predict that Starbucks Co. will post 2.49 EPS for the current year.
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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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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