Starbucks Co. (SBUX) Shares Bought by MML Investors Services LLC
MML Investors Services LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 114.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,388 shares of the coffee company’s stock after buying an additional 95,050 shares during the period. MML Investors Services LLC’s holdings in Starbucks were worth $10,140,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Motco raised its holdings in shares of Starbucks by 79.8% in the third quarter. Motco now owns 149,574 shares of the coffee company’s stock worth $8,502,000 after buying an additional 66,403 shares during the period. United Asset Strategies Inc. raised its holdings in shares of Starbucks by 3.3% in the third quarter. United Asset Strategies Inc. now owns 50,945 shares of the coffee company’s stock worth $2,896,000 after buying an additional 1,619 shares during the period. Gruss & Co. Inc. raised its holdings in shares of Starbucks by 50.0% in the third quarter. Gruss & Co. Inc. now owns 15,000 shares of the coffee company’s stock worth $853,000 after buying an additional 5,000 shares during the period. Brighton Jones LLC raised its holdings in shares of Starbucks by 3.4% in the third quarter. Brighton Jones LLC now owns 97,206 shares of the coffee company’s stock worth $5,525,000 after buying an additional 3,180 shares during the period. Finally, Olstein Capital Management L.P. purchased a new stake in shares of Starbucks in the third quarter worth approximately $4,434,000. Institutional investors own 71.14% of the company’s stock.
In other Starbucks news, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. Analysts forecast that Starbucks Co. will post 2.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.11%. Starbucks’s payout ratio is currently 59.50%.
SBUX has been the topic of several recent analyst reports. Wells Fargo & Co increased their price target on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. KeyCorp reiterated a “buy” rating on shares of Starbucks in a report on Thursday, October 4th. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, ValuEngine upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $64.69.
Starbucks Company Profile
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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