Texas Capital Bank Wealth Management Services Inc Has $3.61 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Texas Capital Bank Wealth Management Services Inc reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 66.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,506 shares of the coffee company’s stock after selling 79,950 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Starbucks were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Vanguard Group Inc. raised its holdings in Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after buying an additional 784,432 shares during the last quarter. FMR LLC grew its stake in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC increased its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the period. Wellington Management Group LLP lifted its holdings in Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after buying an additional 718,880 shares during the period. Finally, Norges Bank bought a new stake in shares of Starbucks in the 4th quarter valued at about $1,244,812,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock traded down $4.88 during trading hours on Thursday, hitting $83.80. 2,677,196 shares of the company’s stock traded hands, compared to its average volume of 11,392,356. The company has a fifty day simple moving average of $103.14 and a 200-day simple moving average of $98.92. The stock has a market capitalization of $95.19 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company posted $0.90 earnings per share. On average, analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBUX shares. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.12.

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.