MML Investors Services LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,529 shares of the coffee company’s stock after selling 22,859 shares during the quarter. MML Investors Services LLC’s holdings in Starbucks were worth $10,016,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Highwater Wealth Management LLC purchased a new position in Starbucks in the 4th quarter valued at $28,000. Veritas Investment Management LLP purchased a new position in Starbucks in the 4th quarter valued at $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Starbucks in the fourth quarter valued at $32,000. Clean Yield Group acquired a new stake in Starbucks in the fourth quarter valued at $33,000. Finally, Doyle Wealth Management acquired a new stake in Starbucks in the fourth quarter valued at $42,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Clifford Burrows sold 152,634 shares of the business’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total value of $10,260,057.48. Following the completion of the transaction, the insider now owns 311,083 shares of the company’s stock, valued at approximately $20,910,999.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek C. Varma sold 73,242 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the completion of the transaction, the executive vice president now directly owns 140,882 shares of the company’s stock, valued at approximately $9,630,693.52. The disclosure for this sale can be found here. Insiders sold a total of 565,806 shares of company stock valued at $38,789,988 in the last three months. 3.98% of the stock is currently owned by corporate insiders.

SBUX has been the subject of a number of recent analyst reports. Bank of America set a $68.00 target price on Starbucks and gave the company a “buy” rating in a report on Monday, December 10th. Wells Fargo & Co reissued an “outperform” rating and issued a $73.00 target price (up previously from $66.00) on shares of Starbucks in a report on Friday, December 14th. KeyCorp set a $70.00 target price on Starbucks and gave the company a “buy” rating in a report on Friday, December 14th. Royal Bank of Canada raised their target price on Starbucks to $74.00 and gave the company an “outperform” rating in a report on Friday, December 14th. Finally, BMO Capital Markets raised their target price on Starbucks to $63.00 and gave the company a “market perform” rating in a report on Friday, December 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $67.30.

Shares of SBUX stock opened at $74.35 on Friday. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $74.93. The stock has a market capitalization of $92.44 billion, a P/E ratio of 30.72, a PEG ratio of 2.13 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 2.72 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.dailypolitical.com/2019/04/05/mml-investors-services-llc-has-10-02-million-position-in-starbucks-co-sbux.html.

Starbucks 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Recommended Story: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.