Massachusetts Financial Services Co. MA Sells 142,198 Shares of Starbucks Co. (NASDAQ:SBUX)

Massachusetts Financial Services Co. MA trimmed its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,428,388 shares of the coffee company's stock after selling 142,198 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of Starbucks worth $130,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Geode Capital Management LLC increased its position in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. Norges Bank acquired a new stake in Starbucks in the fourth quarter valued at approximately $1,244,812,000. Finally, Fisher Asset Management LLC increased its stake in shares of Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company's stock worth $1,087,406,000 after purchasing an additional 154,093 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.12.

Starbucks Stock Performance

NASDAQ:SBUX traded down $5.66 on Thursday, hitting $83.02. The stock had a trading volume of 5,122,735 shares, compared to its average volume of 11,402,090. The firm's fifty day simple moving average is $103.14 and its two-hundred day simple moving average is $98.92. The stock has a market cap of $94.30 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $0.90 earnings per share. Equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.94%. Starbucks's dividend payout ratio (DPR) is presently 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.