Starbucks Corp. (NASDAQ:SBUX) dropped 0.7% on Friday . The company traded as low as $56.42 and last traded at $56.54, with a volume of 5,530,023 shares trading hands. The stock had previously closed at $56.91.

SBUX has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Starbucks Corp. in a research note on Monday, April 4th. They set a “buy” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of Starbucks Corp. in a research note on Saturday, March 12th. Jefferies Group reiterated a “buy” rating and set a $70.00 target price on shares of Starbucks Corp. in a research note on Saturday, April 23rd. Zacks Investment Research lowered shares of Starbucks Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Starbucks Corp. in a research note on Saturday, April 23rd. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $67.68.

The company has a market cap of $82.78 billion and a price-to-earnings ratio of 33.44. The stock has a 50 day moving average of $55.43 and a 200-day moving average of $57.67.

Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, April 21st. The coffee company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company earned $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current fiscal year.

In other Starbucks Corp. news, insider John Culver sold 145,530 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $56.71, for a total value of $8,253,006.30. Following the sale, the insider now directly owns 334,982 shares in the company, valued at $18,996,829.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James G. Shennan, Jr. sold 50,000 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $55.57, for a total transaction of $2,778,500.00. Following the completion of the sale, the director now owns 38,059 shares in the company, valued at $2,114,938.63. The disclosure for this sale can be found here.

A number of large investors have modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Starbucks Corp. by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 83,679,860 shares of the coffee company’s stock valued at $5,023,302,000 after buying an additional 2,151,586 shares during the period. Schroder Investment Management Group boosted its stake in shares of Starbucks Corp. by 244.7% in the fourth quarter. Schroder Investment Management Group now owns 2,130,928 shares of the coffee company’s stock valued at $127,919,000 after buying an additional 1,512,644 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Starbucks Corp. by 41.0% in the fourth quarter. OppenheimerFunds Inc. now owns 2,417,438 shares of the coffee company’s stock valued at $145,133,000 after buying an additional 702,980 shares during the period. Cibc World Markets Corp boosted its stake in shares of Starbucks Corp. by 616.4% in the fourth quarter. Cibc World Markets Corp now owns 735,803 shares of the coffee company’s stock valued at $44,170,000 after buying an additional 633,101 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Starbucks Corp. by 12.2% in the fourth quarter. Bank of Montreal Can now owns 4,666,603 shares of the coffee company’s stock valued at $280,136,000 after buying an additional 508,300 shares during the period.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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