Costco Wholesale Corporation (COST) Rating Reiterated by Robert W. Baird
Costco Wholesale Corporation (NASDAQ:COST)‘s stock had its “buy” rating reiterated by equities research analysts at Robert W. Baird in a report released on Friday.
Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG restated a “hold” rating and issued a $172.00 target price on shares of Costco Wholesale Corporation in a research note on Tuesday, September 5th. Citigroup Inc. raised their price target on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the stock a “hold” rating in a report on Friday, October 6th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $185.00 price target on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Morgan Stanley cut shares of Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Costco Wholesale Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Twelve investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $178.34.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded up $1.98 on Friday, reaching $170.98. 2,342,700 shares of the company’s stock traded hands, compared to its average volume of 3,095,786. The firm has a market capitalization of $74,780.00, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 2.70 and a beta of 0.93. Costco Wholesale Corporation has a 52 week low of $149.52 and a 52 week high of $183.18. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. Costco Wholesale Corporation’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $1.77 earnings per share. research analysts anticipate that Costco Wholesale Corporation will post 6.45 earnings per share for the current fiscal year.
In related news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the transaction, the director now directly owns 6,974 shares in the company, valued at $1,099,032.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dennis R. Zook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the transaction, the vice president now owns 626 shares in the company, valued at $101,361.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,842 shares of company stock worth $5,128,658. Company insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Costco Wholesale Corporation by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the last quarter. BlackRock Inc. boosted its position in Costco Wholesale Corporation by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after acquiring an additional 703,825 shares during the last quarter. State Street Corp boosted its position in Costco Wholesale Corporation by 1.3% during the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after acquiring an additional 239,479 shares during the last quarter. Capital World Investors boosted its position in Costco Wholesale Corporation by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the last quarter. Finally, FMR LLC boosted its position in Costco Wholesale Corporation by 1.5% during the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after acquiring an additional 177,200 shares during the last quarter. Hedge funds and other institutional investors own 72.76% 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.
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