Johnson Investment Counsel Inc. Sells 4,543 Shares of Starbucks Co. (NASDAQ:SBUX)

Johnson Investment Counsel Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 7.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,289 shares of the coffee company’s stock after selling 4,543 shares during the period. Johnson Investment Counsel Inc.’s holdings in Starbucks were worth $5,378,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quilter Plc bought a new stake in shares of Starbucks in the 1st quarter valued at about $208,530,000. America First Investment Advisors LLC acquired a new stake in Starbucks in the 1st quarter worth approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in Starbucks in the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its stake in Starbucks by 3,222.2% in the 1st quarter. NewSquare Capital LLC now owns 299 shares of the coffee company’s stock worth $31,000 after purchasing an additional 290 shares in the last quarter. Finally, Moser Wealth Advisors LLC acquired a new stake in Starbucks in the 2nd quarter worth approximately $30,000. 70.13% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $1.64 during mid-day trading on Friday, reaching $105.57. The company’s stock had a trading volume of 6,343,048 shares, compared to its average volume of 8,562,560. The stock has a 50-day moving average of $95.92 and a two-hundred day moving average of $98.88. The stock has a market capitalization of $120.92 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.56 and a beta of 0.98. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Analysts predict that Starbucks Co. will post 4.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Starbucks’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, November 9th. Starbucks’s dividend payout ratio is 63.69%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SBUX shares. StockNews.com upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. Morgan Stanley decreased their price objective on shares of Starbucks from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. William Blair restated an “outperform” rating on shares of Starbucks in a research note on Monday, November 6th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Starbucks in a research note on Thursday, October 19th. They set a “buy” rating and a $118.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.52.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 504 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total value of $53,252.64. Following the completion of the sale, the chief financial officer now owns 75,027 shares of the company’s stock, valued at $7,927,352.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the transaction, the insider now owns 72,822 shares of the company’s stock, valued at $7,629,560.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 504 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total transaction of $53,252.64. Following the transaction, the chief financial officer now directly owns 75,027 shares of the company’s stock, valued at approximately $7,927,352.82. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.