Texas Capital Bank Wealth Management Services Inc Has $3.77 Million Stake in Starbucks Corporation $SBUX

Texas Capital Bank Wealth Management Services Inc trimmed its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,438 shares of the coffee company’s stock after selling 1,068 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Starbucks were worth $3,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC acquired a new stake in Starbucks during the 1st quarter worth about $1,379,619,000. Jennison Associates LLC acquired a new stake in Starbucks during the 1st quarter worth about $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks during the 1st quarter worth about $503,539,000. Goldman Sachs Group Inc. grew its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Guggenheim raised their target price on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 target price for the company. in a research note on Thursday, July 17th. Finally, UBS Group raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $103.65.

Starbucks Trading Up 2.1%

NASDAQ:SBUX opened at $92.54 on Tuesday. The stock has a market capitalization of $105.19 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02. The firm’s 50 day moving average is $92.83 and its 200 day moving average is $93.88. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. Research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks’s payout ratio is 105.17%.

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.