First Hawaiian Bank grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,814 shares of the coffee company’s stock after purchasing an additional 520 shares during the quarter. First Hawaiian Bank’s holdings in Starbucks were worth $438,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Bouvel Investment Partners LLC raised its position in shares of Starbucks by 0.8% in the 4th quarter. Bouvel Investment Partners LLC now owns 22,633 shares of the coffee company’s stock worth $2,647,000 after buying an additional 179 shares during the period. United Asset Strategies Inc. purchased a new position in shares of Starbucks in the 4th quarter worth $515,000. Whittier Trust Co. raised its position in shares of Starbucks by 5.0% in the 4th quarter. Whittier Trust Co. now owns 285,124 shares of the coffee company’s stock worth $33,350,000 after buying an additional 13,493 shares during the period. Greystone Financial Group LLC raised its position in shares of Starbucks by 30.5% in the 4th quarter. Greystone Financial Group LLC now owns 78,548 shares of the coffee company’s stock worth $9,188,000 after buying an additional 18,364 shares during the period. Finally, Benjamin Edwards Inc. raised its position in shares of Starbucks by 65.2% in the 4th quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock worth $177,000 after buying an additional 597 shares during the period. 69.21% of the stock is currently owned by institutional investors.
In related news, CEO Howard D. Schultz acquired 137,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were acquired at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard D. Schultz acquired 72,500 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the acquisition, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
Starbucks (NASDAQ:SBUX – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. Starbucks’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, analysts forecast that Starbucks Co. will post 2.89 EPS for the current year.
Several analysts recently issued reports on SBUX shares. Credit Suisse Group lowered their price target on Starbucks from $122.00 to $103.00 in a report on Wednesday, May 4th. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. JPMorgan Chase & Co. raised shares of Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, March 16th. Robert W. Baird cut their target price on shares of Starbucks from $95.00 to $85.00 in a report on Monday, April 25th. Finally, BTIG Research cut their price target on Starbucks from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $102.72.
About Starbucks (Get Rating)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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