docker-credential-helpers: docker logout throws error on MacOS

Docker Version 17.03.1-ce-mac5 (16048) MacOS Sierra Version 10.12.4

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docker logout myregistry.example.com:5000 throws warning:

Removing login credentials for myregistry.example.com:5000
WARNING: could not erase credentials: error erasing credentials - err: exit status 1, out: `The specified item could not be found in the keychain.`

When running docker logout myregistry.example.com:5000 again, it is confirmed that the logout was successful:

Not logged in to myregistry.example.com:5000

This issue has also been replicated on OSX Yosemite 10.10.5 with a fresh install of Docker CE.