Texas Capital Bank Wealth Management Services Inc Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Texas Capital Bank Wealth Management Services Inc trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,671 shares of the coffee company’s stock after selling 1,722 shares during the period. Starbucks comprises about 1.3% of Texas Capital Bank Wealth Management Services Inc’s holdings, making the stock its 12th biggest position. Texas Capital Bank Wealth Management Services Inc’s holdings in Starbucks were worth $11,010,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Cypress Capital Management LLC WY boosted its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks in the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. HSBC dropped their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Citigroup lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Guggenheim cut their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $96.43.

Get Our Latest Research Report on Starbucks

Starbucks Stock Up 3.4 %

NASDAQ SBUX traded up $2.57 on Friday, hitting $77.85. The stock had a trading volume of 14,436,465 shares, compared to its average volume of 16,223,576. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The stock has a market cap of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.62 and a beta of 0.97. The company’s 50-day moving average is $85.38 and its two-hundred day moving average is $92.55.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,000 shares of company stock valued at $346,140. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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