Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lifted its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,663 shares of the coffee company's stock after purchasing an additional 13,818 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Starbucks were worth $6,592,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company's stock valued at $29,000 after acquiring an additional 300 shares during the period. Cypress Capital Management LLC WY grew its position in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company's stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Atticus Wealth Management LLC increased its stake in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company's stock valued at $32,000 after purchasing an additional 200 shares during the period. Evolution Advisers Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

SBUX traded up $0.43 during midday trading on Friday, reaching $76.11. 15,761,892 shares of the company's stock were exchanged, compared to its average volume of 15,631,098. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The stock has a market capitalization of $86.21 billion, a PE ratio of 20.97, a P/E/G ratio of 1.63 and a beta of 0.97. The business's 50-day moving average price is $86.91 and its 200 day moving average price is $93.14.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, analysts expect that Starbucks Co. will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, May 16th. Starbucks's dividend payout ratio is presently 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SBUX. Guggenheim dropped their price target on Starbucks from $100.00 to $91.00 and set a "buy" rating on the stock in a research report on Friday, April 19th. Morgan Stanley lowered their price objective on shares of Starbucks from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. Wells Fargo & Company cut their price objective on shares of Starbucks from $105.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Oppenheimer restated a "market perform" rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Stifel Nicolaus dropped their price target on shares of Starbucks from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $96.43.

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.

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