Starbucks Corporation $SBUX Shares Sold by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB has reduced its holdings in Starbucks Corporation by 8.7%, owning 47,829 shares valued at approximately $4.38 million after selling 4,581 shares in the second quarter.
• Starbucks has seen increased interest from institutional investors, with firms like University of Texas AM Investment Management Co. and Nova Wealth Management Inc. making new purchases during the year.
• Starbucks announced a quarterly dividend of $0.61 per share, reflecting an annualized dividend of $2.44 and a dividend yield of 2.9%, with a payout ratio of 105.17%.

MassMutual Private Wealth & Trust FSB lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,829 shares of the coffee company's stock after selling 4,581 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Starbucks were worth $4,383,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in Starbucks in the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after buying an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Starbucks in the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. boosted its position in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Up 1.4%

Shares of SBUX traded up $1.14 during midday trading on Friday, reaching $84.56. The company had a trading volume of 15,308,130 shares, compared to its average volume of 8,404,650. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a market cap of $96.12 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 5.05 and a beta of 1.00. The firm has a 50 day simple moving average of $89.34 and a 200-day simple moving average of $89.59.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the business earned $0.93 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks's dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBUX. Barclays upped their target price on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. Piper Sandler set a $105.00 target price on Starbucks and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.