Central Pacific Bank Trust Division Buys 5,136 Shares of Starbucks Co. (NASDAQ:SBUX)

Central Pacific Bank Trust Division lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,275 shares of the coffee company's stock after buying an additional 5,136 shares during the period. Central Pacific Bank Trust Division's holdings in Starbucks were worth $3,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $62,000. Arizona State Retirement System lifted its stake in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $258,000. Finally, Vanguard Capital Wealth Advisors bought a new position in Starbucks during the fourth quarter worth about $285,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SBUX shares. TD Securities reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. TD Cowen reissued a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Citigroup reduced their target price on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and a consensus price target of $97.92.

Starbucks Price Performance

SBUX traded up $1.29 during trading on Tuesday, hitting $86.48. 2,523,097 shares of the stock traded hands, compared to its average volume of 11,075,608. The firm has a market capitalization of $98.28 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm has a 50-day moving average of $85.28 and a 200 day moving average of $95.46. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 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 the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.82%. Starbucks's payout ratio is 88.41%.

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.