First Hawaiian Bank lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 23.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,611 shares of the coffee company’s stock after selling 8,536 shares during the period. First Hawaiian Bank’s holdings in Starbucks were worth $1,843,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Highwater Wealth Management LLC acquired a new stake in Starbucks in the 4th quarter worth about $28,000. Polaris Greystone Financial Group LLC acquired a new stake in Starbucks in the 3rd quarter worth about $107,000. Point72 Hong Kong Ltd acquired a new stake in Starbucks in the 2nd quarter worth about $115,000. Resources Management Corp CT ADV acquired a new stake in Starbucks in the 3rd quarter worth about $134,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in Starbucks by 52.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock worth $144,000 after buying an additional 1,013 shares during the last quarter. Institutional investors and hedge funds own 76.01% of the company’s stock.
Several equities research analysts recently issued reports on SBUX shares. Wells Fargo & Co lifted their price objective on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Citigroup lifted their price objective on Starbucks from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, November 12th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Monday, November 12th. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, KeyCorp reiterated a “buy” rating on shares of Starbucks in a report on Thursday, October 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $66.12.
SBUX stock opened at $63.73 on Friday. The company has a market cap of $79.25 billion, a PE ratio of 26.33, a PEG ratio of 1.79 and a beta of 0.53. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Analysts forecast that Starbucks Co. will post 2.64 earnings per share for the current year.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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