Franklin Resources Inc. Purchases 249,342 Shares of Starbucks Co. (NASDAQ:SBUX)

Franklin Resources Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,268,115 shares of the coffee company's stock after buying an additional 249,342 shares during the period. Franklin Resources Inc. owned 0.38% of Starbucks worth $404,458,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its position in Starbucks by 39.9% during the second quarter. Blue Trust Inc. now owns 10,140 shares of the coffee company's stock valued at $789,000 after buying an additional 2,894 shares during the period. Brookstone Capital Management grew its holdings in Starbucks by 27.2% in the second quarter. Brookstone Capital Management now owns 28,426 shares of the coffee company's stock worth $2,135,000 after purchasing an additional 6,081 shares during the period. Everpar Advisors LLC increased its stake in shares of Starbucks by 11.7% during the second quarter. Everpar Advisors LLC now owns 4,520 shares of the coffee company's stock valued at $352,000 after purchasing an additional 472 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Starbucks by 4.0% during the second quarter. TCW Group Inc. now owns 15,915 shares of the coffee company's stock valued at $1,239,000 after purchasing an additional 611 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its stake in shares of Starbucks by 11.8% in the 2nd quarter. Boomfish Wealth Group LLC now owns 15,343 shares of the coffee company's stock worth $1,194,000 after buying an additional 1,618 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wedbush dropped their target price on Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Oppenheimer reissued a "market perform" rating on shares of Starbucks in a research report on Monday, August 26th. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. TD Cowen restated a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.77.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.40 during mid-day trading on Friday, reaching $97.42. 5,910,905 shares of the company traded hands, compared to its average volume of 10,805,820. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a market cap of $110.45 billion, a PE ratio of 29.43, a PEG ratio of 2.89 and a beta of 0.97. The company's 50 day moving average price is $98.24 and its 200-day moving average price is $89.44.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company's revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. Starbucks's dividend payout ratio is presently 73.72%.

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.