Franklin Resources Inc. Acquires 210,011 Shares of Starbucks Co. (NASDAQ:SBUX)

Franklin Resources Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,478,126 shares of the coffee company’s stock after acquiring an additional 210,011 shares during the quarter. Franklin Resources Inc.’s holdings in Starbucks were worth $408,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Family Legacy Inc. boosted its stake in Starbucks by 1.0% in the fourth quarter. Family Legacy Inc. now owns 30,870 shares of the coffee company’s stock valued at $2,859,000 after buying an additional 316 shares in the last quarter. AIA Group Ltd raised its stake in Starbucks by 7.5% during the fourth quarter. AIA Group Ltd now owns 90,717 shares of the coffee company’s stock worth $8,278,000 after acquiring an additional 6,303 shares in the last quarter. FSB Premier Wealth Management Inc. lifted its holdings in shares of Starbucks by 5.6% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 9,722 shares of the coffee company’s stock worth $887,000 after acquiring an additional 516 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Starbucks by 10.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 108,991 shares of the coffee company’s stock valued at $9,945,000 after purchasing an additional 10,342 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SBUX shares. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.09 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The business’s 50-day moving average is $105.81 and its 200-day moving average is $99.54. The company has a market capitalization of $111.42 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm earned $0.90 EPS. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

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.