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

First Fiduciary Investment Counsel Inc. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its stake in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. boosted its stake in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC boosted its stake in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the period. Investment Management Corp of Ontario boosted its stake in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares during the period. Finally, Aljian Capital Management LLC boosted its stake in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Stock Down 0.7 %

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

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business earned $0.90 EPS. Analysts anticipate 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. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend 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.