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

Central Pacific Bank Trust Division trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,139 shares of the coffee company’s stock after selling 136 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Starbucks were worth $2,385,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. Fairfield Financial Advisors LTD purchased a new position in shares of Starbucks in the 2nd quarter worth approximately $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 stake in Starbucks in the third quarter worth $49,000. Finally, Friedenthal Financial purchased a new position in Starbucks during the third quarter worth $50,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. 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 research note on Thursday, October 31st. Barclays decreased their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Wedbush dropped their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Trading Up 0.8 %

SBUX traded up $0.75 on Friday, hitting $92.92. 2,496,782 shares of the company’s stock were exchanged, compared to its average volume of 5,521,638. The firm has a 50-day moving average price of $96.74 and a 200-day moving average price of $90.45. The stock has a market cap of $105.35 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.86 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations 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 business earned $1.06 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.63%. 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.