Costco Wholesale Corp. (COST) Rating Reiterated by Argus
Costco Wholesale Corp. (NASDAQ:COST)‘s stock had its “buy” rating reaffirmed by equities researchers at Argus in a research note issued to investors on Tuesday. They presently have a $175.00 price objective on the retailer’s stock. Argus’ target price would indicate a potential upside of 15.89% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a report on Sunday, July 10th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $175.00 price objective on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. Nomura set a $185.00 target price on Costco Wholesale Corp. and gave the stock a “buy” rating in a report on Saturday. Finally, Cowen and Company set a $170.00 target price on Costco Wholesale Corp. and gave the stock a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $172.74.
Shares of Costco Wholesale Corp. (NASDAQ:COST) traded down 0.35% during trading on Tuesday, hitting $150.48. The stock had a trading volume of 2,730,800 shares. The stock’s 50 day moving average is $157.58 and its 200 day moving average is $156.32. The stock has a market capitalization of $65.84 billion, a price-to-earnings ratio of 28.23 and a beta of 0.71. Costco Wholesale Corp. has a 52 week low of $138.57 and a 52 week high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. The company 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. On average, equities research analysts expect that Costco Wholesale Corp. will post $5.95 earnings per share for the current fiscal year.
In other Costco Wholesale Corp. news, CFO Richard A. Galanti sold 2,400 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $167.08, for a total value of $400,992.00. Following the transaction, the chief financial officer now directly owns 30,536 shares of the company’s stock, valued at approximately $5,101,954.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Mckay sold 7,500 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $166.58, for a total transaction of $1,249,350.00. Following the completion of the transaction, the executive vice president now directly owns 58,535 shares in the company, valued at $9,750,760.30. 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 bought a new position in Costco Wholesale Corp. during the second quarter valued at $133,000. Zions Bancorporation boosted its position in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock valued at $139,000 after buying an additional 417 shares in the last quarter. Global X Management Co. LLC boosted 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 valued at $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. boosted 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 valued at $169,000 after buying an additional 111 shares in the last quarter. Finally, Signaturefd LLC boosted 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 valued at $172,000 after buying an additional 491 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.
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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