Mesirow Financial Investment Management Inc. Has $11.81 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Mesirow Financial Investment Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 151,544 shares of the coffee company’s stock after selling 1,018 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Starbucks were worth $11,805,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its stake in shares of 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 purchasing an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its position in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after purchasing an additional 133 shares in the last quarter. Edge Capital Group LLC grew its stake in shares of Starbucks by 3.4% in the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. grew its stake in shares of Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 sale, 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 accessible through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $98.57 on Monday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a market cap of $111.70 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The firm’s fifty day moving average is $84.39 and its 200 day moving average is $83.86.

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

Starbucks 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.