Franklin Resources Inc. Has $408.63 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Franklin Resources Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,478,126 shares of the coffee company’s stock after purchasing an additional 210,011 shares during the quarter. Franklin Resources Inc. owned 0.39% of Starbucks worth $408,629,000 as of its most recent SEC filing.

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

Starbucks Price Performance

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

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.