ZWJ Investment Counsel Inc. Has $344,000 Position in Starbucks Co. (NASDAQ:SBUX)

ZWJ Investment Counsel Inc. increased its stake in Starbucks Co. (NASDAQ:SBUX) by 10.8% in the 2nd quarter, Holdings Channel reports. The firm owned 4,098 shares of the coffee company’s stock after purchasing an additional 400 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Starbucks were worth $344,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Lake Point Wealth Management bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Cowen Prime Services LLC bought a new stake in Starbucks in the first quarter valued at $26,000. Paragon Capital Management LLC bought a new stake in Starbucks in the first quarter valued at $29,000. C J Advisory Inc bought a new stake in Starbucks in the first quarter valued at $34,000. Finally, Somerset Trust Co grew its position in Starbucks by 159.2% in the first quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock valued at $61,000 after acquiring an additional 503 shares during the period. Institutional investors own 71.86% of the company’s stock.

In other Starbucks news, CAO Jill Walker sold 6,492 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold 133,738 shares of company stock worth $11,291,327 in the last three months. Insiders own 3.98% of the company’s stock.

Shares of SBUX traded down $1.85 during trading hours on Monday, hitting $93.66. 3,127,022 shares of the stock traded hands, compared to its average volume of 7,620,043. Starbucks Co. has a 1-year low of $51.19 and a 1-year high of $99.72. The stock has a market capitalization of $114.33 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.63 and a beta of 0.55. The firm has a fifty day simple moving average of $88.57.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 2.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.

SBUX has been the topic of a number of analyst reports. Evercore ISI initiated coverage on Starbucks in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price target on the stock. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus upped their price target on Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Credit Suisse Group initiated coverage on Starbucks in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.53.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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