Starbucks Corp. (NASDAQ:SBUX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $57.84, but opened at $57.95. Starbucks Corp. shares last traded at $58.44, with a volume of 6,502,779 shares.

Several research firms recently weighed in on SBUX. JPMorgan Chase & Co. reissued a “buy” rating on shares of Starbucks Corp. in a research note on Saturday, April 23rd. Deutsche Bank AG set a $64.00 price objective on shares of Starbucks Corp. and gave the stock a “hold” rating in a research note on Sunday. Piper Jaffray Cos. reissued a “buy” rating on shares of Starbucks Corp. in a research note on Saturday, April 23rd. Jefferies Group reissued a “buy” rating and set a $70.00 price objective on shares of Starbucks Corp. in a research note on Saturday, April 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $68.00 price objective on shares of Starbucks Corp. in a research note on Saturday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks Corp. presently has an average rating of “Buy” and an average price target of $66.82.

The company has a 50-day moving average of $56.28 and a 200 day moving average of $57.48. The firm has a market capitalization of $85.42 billion and a PE ratio of 32.76.

Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.34 billion. On average, analysts forecast that Starbucks Corp. will post $1.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Thursday, August 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, August 2nd.

In other Starbucks Corp. news, Director James G. Shennan, Jr. sold 48,334 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $56.93, for a total value of $2,751,654.62. Following the completion of the sale, the director now owns 86,393 shares in the company, valued at $4,918,353.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Culver sold 145,530 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $56.71, for a total value of $8,253,006.30. Following the completion of the sale, the insider now owns 334,982 shares of the company’s stock, valued at approximately $18,996,829.22. The disclosure for this sale can be found here.

A number of hedge funds recently modified their holdings of the company. 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 worth $145,133,000 after buying an additional 702,980 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in shares of Starbucks Corp. by 1.3% in the fourth quarter. Calamos Wealth Management LLC now owns 116,894 shares of the coffee company’s stock worth $7,017,000 after buying an additional 1,540 shares during the last quarter. Calamos Advisors LLC boosted its stake in shares of Starbucks Corp. by 6.7% in the fourth quarter. Calamos Advisors LLC now owns 3,284,771 shares of the coffee company’s stock worth $197,185,000 after buying an additional 207,433 shares during the last quarter. Davy Asset Management Ltd boosted its stake in shares of Starbucks Corp. by 109.7% in the fourth quarter. Davy Asset Management Ltd now owns 108,520 shares of the coffee company’s stock worth $7,257,000 after buying an additional 56,762 shares during the last quarter. Finally, First Heartland Consultants Inc. boosted its stake in shares of Starbucks Corp. by 9.2% in the fourth quarter. First Heartland Consultants Inc. now owns 23,779 shares of the coffee company’s stock worth $1,427,000 after buying an additional 2,000 shares during the last quarter.

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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