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

Franklin Resources Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,478,126 shares of the coffee company's stock after buying an additional 210,011 shares during the quarter. Franklin Resources Inc. owned about 0.39% of Starbucks worth $408,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in Starbucks during the third quarter worth $49,000. Avala Global LP bought a new stake in shares of Starbucks during the third quarter worth about $24,519,000. Benjamin Edwards Inc. raised its holdings in shares of Starbucks by 3,973.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 118,258 shares of the coffee company's stock worth $11,529,000 after acquiring an additional 115,355 shares during the last quarter. Ascent Group LLC lifted its position in Starbucks by 7.3% in the 3rd quarter. Ascent Group LLC now owns 12,527 shares of the coffee company's stock valued at $1,221,000 after acquiring an additional 847 shares in the last quarter. Finally, Concentric Capital Strategies LP acquired a new position in Starbucks during the 3rd quarter valued at about $3,876,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX stock traded up $1.18 during midday trading on Wednesday, reaching $99.41. 6,033,966 shares of the company's stock traded hands, compared to its average volume of 11,109,005. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a 50-day moving average price of $105.84 and a two-hundred day moving average price of $99.54. The firm has a market capitalization of $112.92 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

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Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SBUX shares. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Finally, UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.12.

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.