Johnson Financial Group Inc. Reduces Holdings in Starbucks Corporation $SBUX

Johnson Financial Group Inc. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 47.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,546 shares of the coffee company’s stock after selling 3,258 shares during the quarter. Johnson Financial Group Inc.’s holdings in Starbucks were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC raised its holdings in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after buying an additional 108 shares during the last quarter. Cooper Haims Advisors LLC increased its position in shares of Starbucks by 3.0% in the 2nd quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock valued at $344,000 after acquiring an additional 110 shares during the period. Brown Lisle Cummings Inc. raised its stake in Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after acquiring an additional 117 shares during the last quarter. Diligent Investors LLC lifted its position in Starbucks by 1.9% during the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after acquiring an additional 117 shares during the period. Finally, Ted Buchan & Co grew its stake in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.4%

Starbucks stock opened at $87.04 on Friday. The firm has a market cap of $98.97 billion, a PE ratio of 53.07, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock’s 50 day simple moving average is $84.06 and its two-hundred day simple moving average is $87.71.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. Barclays cut their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Wells Fargo & Company set a $100.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. Morgan Stanley set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

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.