MassMutual Private Wealth & Trust FSB Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

MassMutual Private Wealth & Trust FSB decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,392 shares of the coffee company's stock after selling 53,572 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Starbucks were worth $5,420,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Riverview Trust Co boosted its stake in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company's stock valued at $312,000 after purchasing an additional 105 shares during the last quarter. Essex Savings Bank lifted its holdings in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company's stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. Virtue Capital Management LLC grew its holdings in Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company's stock worth $674,000 after buying an additional 115 shares in the last quarter. DT Investment Partners LLC grew its holdings in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after buying an additional 121 shares in the last quarter. Finally, Childress Capital Advisors LLC lifted its stake in Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company's stock valued at $266,000 after acquiring an additional 126 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. Wedbush reduced their target price on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Morgan Stanley lifted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Finally, Redburn Atlantic reiterated a "sell" rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

Starbucks Stock Performance

Starbucks stock traded up $0.70 during midday trading on Monday, hitting $95.13. 8,361,293 shares of the company's stock were exchanged, compared to its average volume of 7,954,453. The company has a market cap of $107.86 billion, a P/E ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. The stock has a 50-day moving average price of $95.84 and a two-hundred day moving average price of $91.71. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. During the same period in the prior year, the business earned $1.06 earnings per share. Starbucks's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks's dividend payout ratio is currently 73.72%.

Starbucks Profile

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.