Johnson Investment Counsel Inc. Cuts Holdings in Starbucks Corporation $SBUX

Johnson Investment Counsel Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,657 shares of the coffee company's stock after selling 3,574 shares during the period. Johnson Investment Counsel Inc.'s holdings in Starbucks were worth $3,725,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SBUX. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. Chelsea Counsel Co. purchased a new position in Starbucks in the 2nd quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new position in Starbucks in the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its stake in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Starbucks in the 1st quarter valued at approximately $29,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $78.46 on Monday. The stock has a fifty day moving average of $86.48 and a two-hundred day moving average of $87.87. The company has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.89 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. This is a positive change from Starbucks's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks's payout ratio is 105.17%.

Analysts Set New Price Targets

Several research firms recently weighed in on SBUX. Barclays raised their price objective on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Sanford C. Bernstein raised their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada raised their price objective on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Cowen reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and an average target price of $103.56.

Starbucks Profile

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.

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