Texas Capital Bancshares Inc TX Sells 9,115 Shares of Starbucks Co. (NASDAQ:SBUX)

Texas Capital Bancshares Inc TX trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,362 shares of the coffee company's stock after selling 9,115 shares during the quarter. Starbucks accounts for approximately 1.4% of Texas Capital Bancshares Inc TX's portfolio, making the stock its 10th largest holding. Texas Capital Bancshares Inc TX's holdings in Starbucks were worth $3,592,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after purchasing an additional 784,432 shares in the last quarter. FMR LLC lifted its holdings 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 valued at $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 last quarter. Wellington Management Group LLP increased its stake 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 worth $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Starbucks during the 4th quarter worth approximately $1,244,812,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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Starbucks Price Performance

Starbucks stock traded down $1.78 during mid-day trading on Tuesday, hitting $83.71. The company's stock had a trading volume of 7,077,377 shares, compared to its average volume of 11,456,846. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm's 50 day moving average is $101.63 and its 200 day moving average is $98.70. The company has a market cap of $95.09 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 firm earned $0.90 EPS. As a group, analysts forecast that Starbucks Co. will post 2.99 EPS 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.91%. Starbucks's dividend payout ratio is currently 78.71%.

Analyst Ratings Changes

Several research analysts recently weighed in on SBUX shares. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Citigroup reduced their price target on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Friday. Finally, Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report 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 given a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.24.

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.