Johnson Financial Group Inc. Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Johnson Financial Group Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 53.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,832 shares of the coffee company's stock after selling 4,382 shares during the period. Johnson Financial Group Inc.'s holdings in Starbucks were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Financial Life Planners acquired a new position in Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter valued at about $26,000. Collier Financial acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $83.81 on Monday. The company's fifty day moving average price is $96.22 and its 200 day moving average price is $97.83. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $95.20 billion, a P/E ratio of 27.04, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio is currently 78.71%.

Analysts Set New Price Targets

Several research firms have weighed in on SBUX. Stifel Nicolaus dropped their target price on Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their price objective on Starbucks from $124.00 to $106.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reissued a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

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.

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