First Hawaiian Bank Sells 9,019 Shares of Starbucks Corporation $SBUX

Key Points

• First Hawaiian Bank reduced its stock holdings in Starbucks Corporation by 80.8% during the first quarter, owning just 2,142 shares worth approximately $210,000 following the sale of 9,019 shares.
• Analysts have a generally optimistic outlook for Starbucks, with a consensus target price of $104.40 and ratings ranging from "Strong Buy" to "Sell" among various investment firms.
• Starbucks announced a $0.61 quarterly dividend per share, reflecting an annualized yield of 3.0%, despite having a high dividend payout ratio of 105.17%.

First Hawaiian Bank trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 80.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,142 shares of the coffee company's stock after selling 9,019 shares during the quarter. First Hawaiian Bank's holdings in Starbucks were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Nuveen LLC purchased a new stake in shares of Starbucks in the 1st quarter valued at approximately $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks during the 1st quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. grew its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX traded up $1.14 during midday trading on Friday, hitting $84.56. 15,308,130 shares of the stock traded hands, compared to its average volume of 8,404,650. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $96.12 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00. The business's 50 day moving average price is $89.34 and its two-hundred day moving average price is $89.74.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company earned $0.93 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.9%. Starbucks's dividend payout ratio is currently 105.17%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Loop Capital set a $165.00 price target on shares of Starbucks in a research note on Tuesday, August 12th. Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 17th. Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. TD Securities restated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Finally, Bank of America raised their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

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.