Starbucks Co. (NASDAQ:SBUX) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,135 shares of the coffee company’s stock after selling 249 shares during the quarter. Starbucks comprises 1.2% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 9th largest holding. Institute for Wealth Management LLC.’s holdings in Starbucks were worth $7,214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC increased its position in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the period. Metis Global Partners LLC increased its position in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after purchasing an additional 7,619 shares during the period. Tyche Wealth Partners LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $794,000. Insigneo Advisory Services LLC increased its position in shares of Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after purchasing an additional 3,570 shares during the period. Finally, Motco grew its position in Starbucks by 1.1% in the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after acquiring an additional 811 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on SBUX shares. Wedbush reiterated a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. BMO Capital Markets lowered their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Citigroup lowered their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.68.

Starbucks Trading Up 0.2 %

Shares of SBUX traded up $0.19 during trading hours on Friday, hitting $87.34. 7,460,390 shares of the stock traded hands, compared to its average volume of 8,394,777. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm has a market capitalization of $98.89 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The business has a fifty day moving average of $91.14 and a 200-day moving average of $94.42.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $0.75 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

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.