Institute for Wealth Management LLC. Sells 1,463 Shares of Starbucks Corporation $SBUX

Institute for Wealth Management LLC. decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 76,429 shares of the coffee company’s stock after selling 1,463 shares during the quarter. Starbucks makes up 0.8% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 15th biggest holding. Institute for Wealth Management LLC.’s holdings in Starbucks were worth $7,003,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Brueske Advisory Services LLC grew its holdings in Starbucks by 1.7% during the 2nd quarter. Brueske Advisory Services LLC now owns 17,497 shares of the coffee company’s stock worth $1,603,000 after acquiring an additional 299 shares during the last quarter. Sicart Associates LLC grew its holdings in Starbucks by 1.8% during the 2nd quarter. Sicart Associates LLC now owns 19,753 shares of the coffee company’s stock worth $1,810,000 after acquiring an additional 345 shares during the last quarter. Alley Investment Management Company LLC grew its holdings in Starbucks by 2.3% during the 2nd quarter. Alley Investment Management Company LLC now owns 153,721 shares of the coffee company’s stock worth $14,085,000 after acquiring an additional 3,511 shares during the last quarter. Union Bancaire Privee UBP SA grew its holdings in Starbucks by 5.5% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 3,375 shares of the coffee company’s stock worth $309,000 after acquiring an additional 175 shares during the last quarter. Finally, Chicago Capital LLC grew its holdings in Starbucks by 15.7% during the 2nd quarter. Chicago Capital LLC now owns 45,171 shares of the coffee company’s stock worth $4,139,000 after acquiring an additional 6,122 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. TD Cowen reissued a “hold” rating and set a $95.00 price objective on shares of Starbucks in a report on Thursday, September 25th. Wells Fargo & Company increased their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Barclays upped their target price on shares of Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Bank of America upped their target price on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $84.60 on Wednesday. The company has a market capitalization of $96.16 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 5.15 and a beta of 1.00. The firm’s 50 day simple moving average is $88.09 and its 200 day simple moving average is $88.80. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

About Starbucks

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.