Bank of Hawaii Sells 2,819 Shares of Starbucks Co. (NASDAQ:SBUX)

Bank of Hawaii lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 32.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,792 shares of the coffee company’s stock after selling 2,819 shares during the quarter. Bank of Hawaii’s holdings in Starbucks were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Starbucks during the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Barclays dropped their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Stifel Nicolaus increased their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.6 %

Shares of NASDAQ:SBUX opened at $101.84 on Tuesday. The company has a 50-day moving average price of $97.22 and a 200 day moving average price of $87.38. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market cap of $115.47 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.00 and a beta of 0.97.

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 during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

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.