Credit Suisse Group Reiterates Outperform Rating for Costco Wholesale Corporation (COST)
COST has been the topic of several other reports. Vetr raised Costco Wholesale Corporation from a buy rating to a strong-buy rating and set a $182.22 target price on the stock in a report on Monday, August 21st. Deutsche Bank AG reaffirmed a hold rating and set a $172.00 target price on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Citigroup Inc. reaffirmed a buy rating and set a $190.00 target price (up from $187.00) on shares of Costco Wholesale Corporation in a report on Monday, October 9th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the stock a buy rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed an outperform rating and set a $190.00 target price (up from $184.00) on shares of Costco Wholesale Corporation in a report on Friday, October 6th. Eleven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $178.50.
Costco Wholesale Corporation (COST) opened at 159.85 on Tuesday. The stock has a market capitalization of $69.89 billion, a PE ratio of 26.29 and a beta of 0.94. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The stock’s 50 day moving average price is $160.04 and its 200-day moving average price is $164.49.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. Costco Wholesale Corporation’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. On average, equities analysts expect that Costco Wholesale Corporation will post $6.42 EPS for the current fiscal year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total transaction of $164,920.00. Following the transaction, the director now owns 6,974 shares in the company, valued at approximately $1,150,152.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $481,760 in the last quarter. 0.74% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delta Asset Management LLC TN increased its position 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 purchasing an additional 65 shares during the period. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale Corporation during the 2nd quarter worth approximately $101,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale Corporation during the 2nd quarter worth approximately $107,000. Mercer Capital Advisers Inc. increased its position 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 purchasing an additional 23 shares during the period. Finally, Mosaic Family Wealth LLC increased its position 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 purchasing an additional 100 shares during the period. Institutional investors own 72.34% of the company’s stock.
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.
Receive News & Stock Ratings for Costco Wholesale Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corporation and related stocks with our FREE daily email newsletter.