Johnson Investment Counsel Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Johnson Investment Counsel Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,456 shares of the coffee company's stock after selling 4,123 shares during the period. Johnson Investment Counsel Inc.'s holdings in Starbucks were worth $4,057,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SBUX. Financial Life Planners bought a new position in shares of Starbucks during the 4th quarter valued at approximately $25,000. Collier Financial acquired a new stake in Starbucks in the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks in the fourth quarter worth about $30,000. Noble Wealth Management PBC purchased a new position in Starbucks during the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Starbucks in the fourth quarter worth approximately $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock traded down $1.30 during mid-day trading on Wednesday, hitting $98.28. The company had a trading volume of 4,831,359 shares, compared to its average volume of 10,603,760. The firm has a market cap of $111.63 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The stock's fifty day moving average price is $104.48 and its two-hundred day moving average price is $99.23. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 firm earned $0.90 earnings per share. Equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a report on Monday, January 27th. Redburn Atlantic reissued a "sell" rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.75.

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.