Texas Capital Bank Wealth Management Services Inc Sells 79,950 Shares of Starbucks Co. (NASDAQ:SBUX)

Texas Capital Bank Wealth Management Services Inc trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 66.9% during the fourth quarter, HoldingsChannel reports. 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 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research note on Monday. Finally, BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.12.

Starbucks Trading Down 5.5 %

SBUX traded down $4.88 during trading on Thursday, reaching $83.80. The stock had a trading volume of 2,677,196 shares, compared to its average volume of 11,392,356. The company has a market capitalization of $95.19 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 3.59 and a beta of 1.00. The stock’s 50 day moving average is $103.14 and its two-hundred day moving average is $98.92. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

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

Starbucks Dividend Announcement

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

Starbucks 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.