Mesirow Financial Investment Management Inc. Sells 1,018 Shares of Starbucks Co. (NASDAQ:SBUX)

Mesirow Financial Investment Management Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,544 shares of the coffee company’s stock after selling 1,018 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Starbucks were worth $11,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Versant Capital Management Inc boosted its position in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after purchasing an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its stake in Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after acquiring an additional 133 shares in the last quarter. Edge Capital Group LLC grew its holdings in Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after purchasing an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.7 %

SBUX stock opened at $98.57 on Monday. The stock has a market capitalization of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a 50-day simple moving average of $84.39 and a 200-day simple moving average of $83.86.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the business posted $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBUX. The Goldman Sachs Group assumed coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Bank of America lifted their price target on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

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.