Institute for Wealth Management LLC. Invests $5.48 Million in Starbucks Corporation (SBUX)

Institute for Wealth Management LLC. bought a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 93,880 shares of the coffee company’s stock, valued at approximately $5,480,000. Starbucks comprises approximately 1.5% of Institute for Wealth Management LLC.’s portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Starbucks by 12.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after acquiring an additional 10,250 shares during the last quarter. Geneva Advisors LLC lifted its stake in shares of Starbucks by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after acquiring an additional 63,041 shares during the last quarter. Private Vista LLC lifted its stake in shares of Starbucks by 3,334.9% in the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after acquiring an additional 213,303 shares during the last quarter. Welch Group LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at about $406,000. Finally, TrimTabs Asset Management LLC lifted its stake in shares of Starbucks by 104.9% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock valued at $250,000 after acquiring an additional 2,199 shares during the last quarter. 71.07% of the stock is owned by institutional investors.

Starbucks Corporation (SBUX) opened at $57.32 on Monday. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $81,554.90, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.57 and a beta of 0.75.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. sell-side analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a dividend of $0.30 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. Starbucks’s dividend payout ratio is 60.91%.

A number of equities research analysts have recently weighed in on SBUX shares. BMO Capital Markets lowered Starbucks from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $54.52 to $64.00 in a research note on Wednesday, August 9th. Morgan Stanley lowered their price target on Starbucks from $68.00 to $62.00 and set a “weight” rating for the company in a research report on Tuesday, August 22nd. Cleveland Research lowered Starbucks from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 price target on shares of Starbucks in a research report on Wednesday, August 23rd. Finally, Cowen reaffirmed an “outperform” rating and set a $63.00 price target on shares of Starbucks in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.26.

In other Starbucks news, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the transaction, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold a total of 525,550 shares of company stock worth $29,688,442 in the last quarter. Company insiders own 3.40% of the company’s stock.

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Starbucks Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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