First Financial Bankshares Inc Sells 9,877 Shares of Starbucks Co. (NASDAQ:SBUX)

First Financial Bankshares Inc cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,750 shares of the coffee company's stock after selling 9,877 shares during the period. First Financial Bankshares Inc's holdings in Starbucks were worth $31,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Generali Investments Management Co LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $182,000. Harvest Fund Management Co. Ltd lifted its position in shares of Starbucks by 17.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 66,971 shares of the coffee company's stock valued at $6,081,000 after acquiring an additional 10,019 shares in the last quarter. Bestgate Wealth Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $306,000. Stokes Family Office LLC lifted its position in shares of Starbucks by 7.4% in the 4th quarter. Stokes Family Office LLC now owns 20,470 shares of the coffee company's stock valued at $1,868,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $3,181,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 2.2 %

Starbucks stock traded down $2.21 during mid-day trading on Friday, reaching $97.07. The company had a trading volume of 11,365,165 shares, compared to its average volume of 10,616,667. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a 50 day moving average of $105.41 and a 200-day moving average of $99.41. The firm has a market cap of $110.26 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99.

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Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the business posted $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Finally, Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and an average target price of $106.12.

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.