Credit Suisse Group AG Reiterates “$165.00” Price Target for Costco Wholesale Corp. (COST)
Costco Wholesale Corp. (NASDAQ:COST) has been given a $165.00 price target by research analysts at Credit Suisse Group AG in a report issued on Friday. The firm currently has a a “buy” rating on the retailer’s stock. Credit Suisse Group AG’s target price points to a potential upside of 9.14% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Costco Wholesale Corp. in a research note on Sunday, July 10th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $175.00 target price on shares of Costco Wholesale Corp. in a research note on Saturday, July 9th. JPMorgan Chase & Co. restated a “buy” rating on shares of Costco Wholesale Corp. in a research note on Saturday, July 9th. Bank of America Corp. restated a “buy” rating on shares of Costco Wholesale Corp. in a research note on Saturday, June 4th. Finally, Royal Bank Of Canada upped their target price on Costco Wholesale Corp. from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $172.74.
Shares of Costco Wholesale Corp. (NASDAQ:COST) traded down 1.14% during trading on Friday, reaching $150.77. The company’s stock had a trading volume of 984,695 shares. Costco Wholesale Corp. has a 52-week low of $138.57 and a 52-week high of $169.73. The company has a market cap of $65.97 billion, a PE ratio of 28.29 and a beta of 0.71. The firm’s 50-day moving average is $158.09 and its 200 day moving average is $156.31.
Costco Wholesale Corp. (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.04. The business had revenue of $35.73 billion for the quarter. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. On average, equities research analysts predict that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.
In related news, Director John W. Meisenbach sold 5,737 shares of Costco Wholesale Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $167.74, for a total value of $962,324.38. Following the completion of the transaction, the director now directly owns 4,652 shares in the company, valued at approximately $780,326.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 2,400 shares of Costco Wholesale Corp. stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $167.08, for a total transaction of $400,992.00. Following the completion of the transaction, the chief financial officer now owns 30,536 shares of the company’s stock, valued at $5,101,954.88. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FCM Investments TX acquired a new position in Costco Wholesale Corp. during the second quarter worth $133,000. Zions Bancorporation raised its position in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock worth $139,000 after buying an additional 417 shares in the last quarter. Global X Management Co. LLC raised its position in Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. raised its position in Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares in the last quarter. Finally, Signaturefd LLC raised its position in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 73.02% of the company’s stock.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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