First Hawaiian Bank Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

First Hawaiian Bank cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,161 shares of the coffee company’s stock after selling 3,356 shares during the quarter. First Hawaiian Bank’s holdings in Starbucks were worth $1,018,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares during the last quarter. Essex Savings Bank raised its holdings in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares during the last quarter. Virtue Capital Management LLC lifted its stake in shares of Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the period. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Finally, Childress Capital Advisors LLC increased its position in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SBUX shares. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Barclays cut their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. BTIG Research increased their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Trading Down 0.3 %

SBUX stock opened at $92.60 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The business’s 50-day moving average is $96.26 and its 200 day moving average is $90.88. The stock has a market cap of $104.99 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

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.