First Hawaiian Bank Sells 3,356 Shares of Starbucks Co. (NASDAQ:SBUX)

First Hawaiian Bank lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,161 shares of the coffee company’s stock after selling 3,356 shares during the period. First Hawaiian Bank’s holdings in Starbucks were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the second quarter valued at $25,000. Fairfield Financial Advisors LTD bought a new stake in shares of Starbucks during the 2nd quarter valued at about $41,000. DT Investment Partners LLC increased its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks in the 3rd quarter worth approximately $49,000. Finally, Friedenthal Financial purchased a new position in shares of Starbucks in the third quarter worth approximately $50,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $92.60 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company has a market capitalization of $104.99 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The company’s 50-day simple moving average is $96.26 and its two-hundred day simple moving average is $90.88.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Equities analysts expect that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. UBS Group increased their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Wedbush lowered their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $103.77.

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.