MassMutual Private Wealth & Trust FSB Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

MassMutual Private Wealth & Trust FSB reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,410 shares of the coffee company's stock after selling 6,982 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Starbucks were worth $5,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Life Planners bought a new stake in Starbucks during the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new stake in Starbucks during the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 1.5%

SBUX traded up $1.29 during trading on Tuesday, hitting $86.48. 2,523,097 shares of the company's stock were exchanged, compared to its average volume of 11,075,436. The business's 50 day moving average is $85.28 and its two-hundred day moving average is $95.46. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market cap of $98.28 billion, a P/E ratio of 27.90, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. Starbucks's payout ratio is 88.41%.

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Barclays decreased their price objective on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group downgraded shares of Starbucks from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $103.00 to $85.00 in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $97.92.

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.