First Fiduciary Investment Counsel Inc. Sells 967 Shares of Starbucks Co. (NASDAQ:SBUX)

First Fiduciary Investment Counsel Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 91,617 shares of the coffee company’s stock after selling 967 shares during the period. Starbucks accounts for approximately 1.9% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 23rd biggest position. First Fiduciary Investment Counsel Inc.’s holdings in Starbucks were worth $8,796,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CX Institutional increased its holdings in Starbucks by 298.7% in the third quarter. CX Institutional now owns 38,472 shares of the coffee company’s stock valued at $3,511,000 after purchasing an additional 28,822 shares during the period. DDD Partners LLC increased its holdings in Starbucks by 5.7% in the third quarter. DDD Partners LLC now owns 7,311 shares of the coffee company’s stock valued at $668,000 after purchasing an additional 395 shares during the period. Galvin Gaustad & Stein LLC increased its holdings in Starbucks by 2.5% in the third quarter. Galvin Gaustad & Stein LLC now owns 203,616 shares of the coffee company’s stock valued at $18,584,000 after purchasing an additional 5,027 shares during the period. Keudell Morrison Wealth Management increased its holdings in Starbucks by 2.7% in the third quarter. Keudell Morrison Wealth Management now owns 8,476 shares of the coffee company’s stock valued at $774,000 after purchasing an additional 221 shares during the period. Finally, Secure Asset Management LLC grew its holdings in Starbucks by 32.0% during the 3rd quarter. Secure Asset Management LLC now owns 3,248 shares of the coffee company’s stock worth $296,000 after acquiring an additional 787 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 7,250 shares of company stock worth $651,738 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBUX shares. Citigroup decreased their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, April 12th. BMO Capital Markets cut their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird cut their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Jefferies Financial Group cut their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th. Finally, Stephens reissued an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $106.55.

Starbucks Stock Up 0.5 %

Shares of SBUX stock opened at $88.25 on Friday. The company has a 50 day moving average of $90.36 and a 200-day moving average of $94.27. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The firm has a market cap of $99.92 billion, a P/E ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Starbucks Company 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.