Institute for Wealth Management LLC. raised its stake in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,491 shares of the coffee company's stock after buying an additional 752 shares during the period. Starbucks makes up approximately 1.2% of Institute for Wealth Management LLC.'s holdings, making the stock its 7th largest holding. Institute for Wealth Management LLC.'s holdings in Starbucks were worth $6,072,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBUX. TLW Wealth Management LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $2,651,000. Chiron Capital Management LLC lifted its holdings in shares of Starbucks by 251.0% in the second quarter. Chiron Capital Management LLC now owns 10,320 shares of the coffee company's stock valued at $788,000 after purchasing an additional 7,380 shares in the last quarter. WASHINGTON TRUST Co increased its stake in shares of Starbucks by 1.7% during the 2nd quarter. WASHINGTON TRUST Co now owns 127,287 shares of the coffee company's stock worth $9,724,000 after purchasing an additional 2,095 shares in the last quarter. Legacy Advisors LLC lifted its stake in Starbucks by 48.1% in the 2nd quarter. Legacy Advisors LLC now owns 18,608 shares of the coffee company's stock valued at $1,421,000 after buying an additional 6,042 shares in the last quarter. Finally, Walker Asset Management LLC grew its holdings in Starbucks by 6,107.9% during the 2nd quarter. Walker Asset Management LLC now owns 1,337,128 shares of the coffee company's stock valued at $102,690,000 after buying an additional 1,315,589 shares during the last quarter. Hedge funds and other institutional investors own 67.97% of the company's stock.

Insider Transactions at Starbucks

In other news, EVP Zabrina Jenkins sold 4,020 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares in the company, valued at approximately $3,379,341. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, Director Mellody L. Hobson purchased 54,750 shares of the company's stock in a transaction dated Thursday, September 15th. The shares were bought at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the purchase, the director now directly owns 433,254 shares in the company, valued at approximately $40,110,655.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of the firm's stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the transaction, the executive vice president now owns 36,337 shares in the company, valued at $3,379,341. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Starbucks Stock Up 3.4 %

Starbucks (NASDAQ:SBUX – Get Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.53 per share. This is a positive change from Starbucks's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $2.12 annualized dividend and a dividend yield of 2.40%. Starbucks's dividend payout ratio is 55.21%.

Analyst Ratings Changes

A number of research firms recently commented on SBUX. Wedbush lifted their price objective on Starbucks from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Starbucks from $93.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, September 15th. Barclays lifted their price objective on Starbucks from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, September 14th. Cowen increased their target price on Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Finally, Stephens started coverage on Starbucks in a report on Thursday, September 22nd. They issued an "equal weight" rating and a $91.00 price target for the company. Fifteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $103.44.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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