Massachusetts Financial Services Co. MA Purchases 3,124,533 Shares of Starbucks Corporation (NASDAQ:SBUX)

Massachusetts Financial Services Co. MA raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 218.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,552,921 shares of the coffee company's stock after buying an additional 3,124,533 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.40% of Starbucks worth $446,596,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after buying an additional 81,952 shares during the last quarter. Proficio Capital Partners LLC raised its position in Starbucks by 10.3% during the 4th quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company's stock worth $698,000 after buying an additional 714 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Starbucks during the 4th quarter worth approximately $226,000. Choate Investment Advisors raised its position in Starbucks by 5.3% during the 4th quarter. Choate Investment Advisors now owns 3,589 shares of the coffee company's stock worth $327,000 after buying an additional 181 shares during the last quarter. Finally, Centurion Wealth Management LLC raised its position in Starbucks by 8.3% during the 4th quarter. Centurion Wealth Management LLC now owns 2,767 shares of the coffee company's stock worth $253,000 after buying an additional 213 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.0%

SBUX stock traded down $0.94 during trading on Tuesday, hitting $92.48. The company had a trading volume of 8,560,681 shares, compared to its average volume of 10,830,799. The company has a fifty day moving average price of $89.34 and a two-hundred day moving average price of $94.55. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $105.09 billion, a P/E ratio of 33.51, a P/E/G ratio of 4.86 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of analyst reports. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Barclays reissued an "overweight" rating and issued a $108.00 price target (up previously from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average target price of $98.92.

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.