Starbucks Corporation $SBUX Shares Acquired by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. grew its position in Starbucks Corporation (NASDAQ:SBUX) by 45.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,023 shares of the coffee company’s stock after purchasing an additional 940 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Starbucks were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Alliance Wealth Advisors LLC raised its stake in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in Starbucks by 1.4% during 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 in the last quarter. Diligent Investors LLC raised its stake 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 in the last quarter. Ted Buchan & Co raised 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 worth $791,000 after acquiring an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its stake in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after acquiring an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 1.7%

Shares of NASDAQ:SBUX opened at $78.46 on Friday. The company has a market cap of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.93 and a beta of 1.01. The firm’s 50-day simple moving average is $86.48 and its 200-day simple moving average is $88.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Citigroup raised shares of Starbucks from a “neutral” rating to a “mixed” rating in a research report on Thursday. TD Cowen lowered their price objective on shares of Starbucks from $88.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Royal Bank Of Canada raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.56.

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.