Institute for Wealth Management LLC. Sells 183 Shares of Starbucks Co. (NASDAQ:SBUX)

Institute for Wealth Management LLC. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 78,435 shares of the coffee company’s stock after selling 183 shares during the period. Starbucks accounts for approximately 0.9% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 13th largest holding. Institute for Wealth Management LLC.’s holdings in Starbucks were worth $7,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. FMR LLC boosted its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Starbucks in the 3rd quarter worth $126,574,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SBUX shares. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Citigroup upped their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.52.

Starbucks Trading Up 0.4 %

Shares of SBUX opened at $109.00 on Friday. The company’s fifty day simple moving average is $95.90 and its 200-day simple moving average is $93.00. The company has a market cap of $123.81 billion, a P/E ratio of 35.16, a P/E/G ratio of 3.47 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 44.30%. During the same period in the prior year, the company earned $0.90 earnings per share. Analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Starbucks Company Profile

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.