Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,616 shares of the coffee company's stock after selling 12,052 shares during the period. Cullen Frost Bankers Inc.'s holdings in Starbucks were worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new position in shares of Starbucks during the 1st quarter valued at approximately $27,000. Graney & King LLC purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $27,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup reiterated a "neutral" rating and set a $100.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Monday. BMO Capital Markets reduced their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Sanford C. Bernstein increased their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.58.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.61 during trading on Friday, hitting $93.80. 5,172,781 shares of the company were exchanged, compared to its average volume of 10,765,183. The firm has a market capitalization of $106.59 billion, a PE ratio of 33.99, a P/E/G ratio of 4.74 and a beta of 1.02. Starbucks Corporation has a 12-month low of $72.73 and a 12-month high of $117.46. The company has a fifty day moving average price of $89.95 and a 200-day moving average price of $94.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.60%. Starbucks's dividend payout ratio (DPR) is currently 88.41%.

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.