Costco Wholesale Corporation (COST) Earns “Hold” Rating from Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research note released on Friday morning. The firm currently has a $162.00 price objective on the retailer’s stock, down from their prior price objective of $168.00. Jefferies Group also issued estimates for Costco Wholesale Corporation’s Q4 2017 earnings at $2.05 EPS, FY2017 earnings at $5.79 EPS, Q1 2018 earnings at $1.33 EPS, Q2 2018 earnings at $1.41 EPS, Q3 2018 earnings at $1.55 EPS, Q4 2018 earnings at $2.19 EPS, FY2018 earnings at $6.50 EPS, FY2019 earnings at $6.98 EPS, FY2020 earnings at $7.52 EPS, FY2021 earnings at $8.20 EPS and FY2022 earnings at $9.00 EPS.
A number of other analysts also recently commented on COST. UBS AG upgraded shares of Costco Wholesale Corporation from a market perform rating to an outperform rating in a report on Monday, June 26th. Guggenheim reiterated a neutral rating on shares of Costco Wholesale Corporation in a report on Thursday. Robert W. Baird set a $200.00 target price on shares of Costco Wholesale Corporation and gave the stock a buy rating in a report on Wednesday, October 4th. BidaskClub upgraded shares of Costco Wholesale Corporation from a sell rating to a hold rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG set a $155.00 target price on shares of Costco Wholesale Corporation and gave the stock a hold rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $178.39.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 157.09 on Friday. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The firm has a market capitalization of $68.68 billion, a price-to-earnings ratio of 25.84 and a beta of 0.94. The stock has a 50 day moving average of $159.96 and a 200 day moving average of $164.83.
Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.33%. The business had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts predict that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
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In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the sale, the director now owns 6,974 shares of the company’s stock, valued at approximately $1,150,152.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock worth $481,760. 0.74% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of COST. Delta Asset Management LLC TN grew its holdings in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in Costco Wholesale Corporation during the 2nd quarter worth about $101,000. Northwest Investment Counselors LLC bought a new stake in Costco Wholesale Corporation during the 2nd quarter worth about $107,000. Mercer Capital Advisers Inc. grew its holdings in Costco Wholesale Corporation by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its holdings in Costco Wholesale Corporation by 16.7% during the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after acquiring an additional 100 shares during the last quarter. 72.34% of the stock is currently owned by hedge funds and other institutional investors.
About Costco Wholesale Corporation
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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