Mesirow Financial Investment Management Inc. Has $11.76 Million Stock Holdings in Starbucks Corporation $SBUX

Mesirow Financial Investment Management Inc. trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,289 shares of the coffee company’s stock after selling 6,032 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Starbucks were worth $11,756,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares during the period. Wellington Management Group LLP raised its position in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. raised its position in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $817,759,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 1.2%

NASDAQ SBUX opened at $83.15 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market capitalization of $94.52 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01. The firm’s 50 day moving average is $84.58 and its 200-day moving average is $87.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter last year, the business earned $0.80 earnings per share. Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 105.17%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SBUX shares. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. TD Cowen restated a “hold” rating and set a $84.00 target price on shares of Starbucks in a report on Thursday. Finally, BTIG Research restated a “buy” rating and set a $105.00 target price on shares of Starbucks in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

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.