Mesirow Financial Investment Management Inc. Sells 13,989 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Mesirow Financial Investment Management Inc. decreased its stake in Starbucks Corporation by 9.4%, selling 13,989 shares and ending up with 134,321 shares valued at approximately $13.18 million.
• Starbucks Corporation reported $0.50 earnings per share for the latest quarter, falling short of analysts' expectations of $0.64, although it achieved a year-over-year revenue increase of 3.8%.
• The company declared a quarterly dividend of $0.61 per share, resulting in an annualized dividend yield of 2.62%, with a payout ratio currently at 88.41%.

Mesirow Financial Investment Management Inc. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,321 shares of the coffee company's stock after selling 13,989 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Starbucks were worth $13,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the 4th quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the 1st quarter valued at about $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the 4th quarter valued at about $32,000. Ball & Co Wealth Management Inc. acquired a new stake in Starbucks in the 4th quarter valued at about $41,000. Finally, Accredited Wealth Management LLC acquired a new stake in Starbucks in the 4th quarter valued at about $44,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. UBS Group raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. TD Cowen raised their target price on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, CICC Research began coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and a consensus price target of $101.27.

Starbucks Trading Down 2.6%

Starbucks stock traded down $2.30 during mid-day trading on Friday, reaching $86.86. The company had a trading volume of 16,215,272 shares, compared to its average volume of 10,280,721. Starbucks Corporation has a fifty-two week low of $72.72 and a fifty-two week high of $117.46. The company has a market cap of $98.73 billion, a P/E ratio of 37.44, a P/E/G ratio of 5.08 and a beta of 1.02. The business has a fifty day simple moving average of $91.68 and a 200 day simple moving average of $94.62.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is 105.17%.

About Starbucks

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.