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

Institute for Wealth Management LLC. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,135 shares of the coffee company’s stock after selling 249 shares during the period. Starbucks accounts for about 1.2% of Institute for Wealth Management LLC.’s holdings, making the stock its 9th biggest holding. Institute for Wealth Management LLC.’s holdings in Starbucks were worth $7,214,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Beaumont Financial Advisors LLC boosted its stake in Starbucks by 5.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 4,581 shares of the coffee company’s stock worth $440,000 after buying an additional 226 shares during the period. Cutler Investment Counsel LLC boosted its stake in Starbucks by 2.1% during the fourth quarter. Cutler Investment Counsel LLC now owns 12,842 shares of the coffee company’s stock worth $1,233,000 after buying an additional 258 shares during the period. HTLF Bank purchased a new position in shares of Starbucks in the fourth quarter valued at approximately $5,341,000. Lafayette Investments Inc. boosted its stake in shares of Starbucks by 2.5% in the fourth quarter. Lafayette Investments Inc. now owns 63,373 shares of the coffee company’s stock valued at $6,084,000 after purchasing an additional 1,530 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Starbucks by 35.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 9,365 shares of the coffee company’s stock valued at $899,000 after purchasing an additional 2,462 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.2 %

SBUX stock traded up $0.19 on Friday, hitting $87.34. The company’s stock had a trading volume of 7,460,390 shares, compared to its average volume of 8,394,777. The stock has a market cap of $98.89 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The firm has a 50 day moving average of $91.14 and a two-hundred day moving average of $94.42.

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

Starbucks Announces Dividend

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

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Guggenheim lowered their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group lowered their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.68.

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.