First Fiduciary Investment Counsel Inc. Acquires 2,939 Shares of Starbucks Co. (NASDAQ:SBUX)

First Fiduciary Investment Counsel Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,329 shares of the coffee company’s stock after buying an additional 2,939 shares during the period. First Fiduciary Investment Counsel Inc.’s holdings in Starbucks were worth $8,425,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Financial Life Planners purchased a new position in shares of Starbucks in the 4th quarter worth about $25,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial purchased a new position in shares of Starbucks in the 3rd quarter worth about $50,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $56,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Down 0.7 %

Shares of NASDAQ:SBUX opened at $111.45 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.62. The company has a market capitalization of $126.60 billion, a PE ratio of 35.95, a PEG ratio of 3.52 and a beta of 1.00. The business has a 50 day moving average of $97.12 and a two-hundred day moving average of $94.84.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business posted $0.90 earnings per share. Equities research analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 78.71%.

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.