MML Investors Services LLC Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

MML Investors Services LLC reduced its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 577,984 shares of the coffee company’s stock after selling 58,361 shares during the quarter. MML Investors Services LLC owned approximately 0.05% of Starbucks worth $52,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Pioneer Trust Bank N A OR boosted its position in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC lifted its position in shares of Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after buying an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel boosted its stake in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after acquiring an additional 96 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after buying an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its holdings in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after acquiring an additional 97 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.9 %

SBUX opened at $81.50 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a fifty day simple moving average of $99.25 and a two-hundred day simple moving average of $98.29. The company has a market cap of $92.58 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 firm earned $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Wedbush lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.79.

Check Out Our Latest Stock Report on Starbucks

About Starbucks

(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.

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