Costco Wholesale Corp. (COST) Given Outperform Rating at Cowen and Company
Several other equities research analysts have also commented on the stock. Argus reaffirmed a buy rating and issued a $175.00 price target on shares of Costco Wholesale Corp. in a report on Tuesday. Robert W. Baird set a $175.00 price target on shares of Costco Wholesale Corp. and gave the company a buy rating in a report on Monday. Nomura set a $185.00 price target on shares of Costco Wholesale Corp. and gave the company a buy rating in a report on Saturday, October 1st. Barclays PLC set a $158.00 price target on shares of Costco Wholesale Corp. and gave the company a hold rating in a report on Sunday, October 2nd. Finally, RBC Capital Markets reaffirmed an outperform rating and issued a $178.00 price target (up from $177.00) on shares of Costco Wholesale Corp. in a report on Friday, September 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $172.74.
Costco Wholesale Corp. (NASDAQ:COST) traded up 0.10% during trading on Thursday, reaching $149.62. The company had a trading volume of 1,367,209 shares. Costco Wholesale Corp. has a 52 week low of $138.57 and a 52 week high of $169.73. The firm has a market capitalization of $65.46 billion, a P/E ratio of 28.07 and a beta of 0.71. The stock has a 50 day moving average price of $156.00 and a 200 day moving average price of $156.21.
Costco Wholesale Corp. (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The company had revenue of $35.73 billion for the quarter. During the same period in the previous year, the company posted $1.73 earnings per share. Costco Wholesale Corp.’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts predict that Costco Wholesale Corp. will post $5.95 earnings per share for the current year.
In related news, VP Douglas W. Schutt sold 14,656 shares of Costco Wholesale Corp. stock in a transaction on Monday, July 11th. The shares were sold at an average price of $166.76, for a total transaction of $2,444,034.56. Following the sale, the vice president now directly owns 40,184 shares in the company, valued at approximately $6,701,083.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jill S. Ruckelshaus sold 6,180 shares of Costco Wholesale Corp. stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $166.03, for a total transaction of $1,026,065.40. Following the sale, the director now owns 26,008 shares in the company, valued at $4,318,108.24. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. UMB Bank N A MO raised its stake in shares of Costco Wholesale Corp. by 4.5% in the second quarter. UMB Bank N A MO now owns 167,058 shares of the retailer’s stock valued at $26,235,000 after buying an additional 7,234 shares in the last quarter. Comgest Global Investors S.A.S. raised its position in Costco Wholesale Corp. by 231.7% in the second quarter. Comgest Global Investors S.A.S. now owns 72,983 shares of the retailer’s stock worth $11,462,000 after buying an additional 50,983 shares in the last quarter. Front Street Capital Management Inc. acquired a new position in Costco Wholesale Corp. during the second quarter worth approximately $9,935,000. First Republic Investment Management Inc. raised its position in Costco Wholesale Corp. by 7.5% in the first quarter. First Republic Investment Management Inc. now owns 271,526 shares of the retailer’s stock worth $42,787,000 after buying an additional 18,866 shares in the last quarter. Finally, Carret Asset Management LLC acquired a new position in Costco Wholesale Corp. during the second quarter worth approximately $225,000. Hedge funds and other institutional investors own 73.02% of the company’s stock.
About Costco Wholesale Corp.
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.
Receive News & Stock Ratings for Costco Wholesale Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corp. and related stocks with our FREE daily email newsletter.