MML Investors Services LLC Has $10.02 Million Position in Starbucks Co. (SBUX)
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.
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.
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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.
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