Costco Wholesale Corporation (COST) Given “Neutral” Rating at Guggenheim
COST has been the subject of a number of other research reports. Vetr raised Costco Wholesale Corporation from a buy rating to a strong-buy rating and set a $182.22 price objective for the company in a research note on Monday, August 21st. Deutsche Bank AG reaffirmed a hold rating and issued a $172.00 price objective on shares of Costco Wholesale Corporation in a research note on Tuesday, September 5th. Robert W. Baird set a $200.00 price objective on Costco Wholesale Corporation and gave the stock a buy rating in a research note on Thursday, July 27th. BidaskClub lowered Costco Wholesale Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Finally, BMO Capital Markets set a $160.00 price objective on Costco Wholesale Corporation and gave the stock a hold rating in a research note on Tuesday, August 29th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $178.39.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 5.97% on Thursday, reaching $157.09. The company’s stock had a trading volume of 17,997,094 shares. The company has a market capitalization of $68.90 billion, a price-to-earnings ratio of 27.27 and a beta of 0.94. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The company’s 50-day moving average is $160.00 and its 200 day moving average is $164.90. Costco Wholesale Corporation also was the target of some unusual options trading on Thursday. Stock traders purchased 21,435 call options on the stock. This is an increase of approximately 266% compared to the typical volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The firm had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. Equities analysts anticipate that Costco Wholesale Corporation will post $6.43 earnings per share for the current fiscal year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the sale, the director now owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $481,760 in the last ninety days. Insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Costco Wholesale Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after acquiring an additional 937,121 shares in the last quarter. BlackRock Inc. boosted its position in shares of Costco Wholesale Corporation by 2.9% in the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after purchasing an additional 703,825 shares in the last quarter. State Street Corp boosted its position in shares of Costco Wholesale Corporation by 1.3% in the 1st quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after purchasing an additional 239,479 shares in the last quarter. Capital World Investors boosted its position in shares of Costco Wholesale Corporation by 6.0% in the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after purchasing an additional 1,007,720 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Costco Wholesale Corporation by 1.5% in the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after purchasing an additional 177,200 shares in the last quarter. 72.35% of the stock is currently owned by institutional investors and hedge funds.
Costco Wholesale Corporation Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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