Texas Capital Bancshares Inc TX Acquires 214 Shares of Starbucks Co. (NASDAQ:SBUX)

Texas Capital Bancshares Inc TX lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,496 shares of the coffee company’s stock after acquiring an additional 214 shares during the quarter. Starbucks accounts for 1.5% of Texas Capital Bancshares Inc TX’s portfolio, making the stock its 9th largest holding. Texas Capital Bancshares Inc TX’s holdings in Starbucks were worth $3,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after purchasing an additional 260,489 shares during the period. Legal & General Group Plc grew its position in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Flossbach Von Storch AG lifted its position in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after buying an additional 266,570 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Barclays upped their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Starbucks Stock Down 0.1 %

NASDAQ:SBUX opened at $97.36 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $84.26. The firm has a market capitalization of $110.33 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

About Starbucks

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.