Nomura Initiates Coverage on Costco Wholesale (NASDAQ:COST)
Equities research analysts at Nomura started coverage on shares of Costco Wholesale (NASDAQ:COST) in a research note issued to investors on Friday, The Fly reports. The firm set a “neutral” rating and a $300.00 price target on the retailer’s stock. Nomura’s target price points to a potential downside of 0.86% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Edward Jones cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Gordon Haskett upgraded shares of Costco Wholesale from a “hold” rating to an “accumulate” rating and upped their price objective for the stock from $255.00 to $330.00 in a research report on Friday, September 20th. Raymond James upped their price objective on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Telsey Advisory Group upped their price objective on shares of Costco Wholesale from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $295.57.
Shares of COST traded down $2.62 during midday trading on Friday, hitting $302.59. 103,308 shares of the company traded hands, compared to its average volume of 1,750,933. The stock has a 50-day moving average of $294.51 and a 200-day moving average of $273.52. Costco Wholesale has a one year low of $189.51 and a one year high of $307.34. The firm has a market cap of $131.54 billion, a P/E ratio of 36.95, a PEG ratio of 4.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.52.
In other Costco Wholesale news, VP Paul G. Moulton sold 5,976 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $298.06, for a total value of $1,781,206.56. Following the transaction, the vice president now directly owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 333 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $297.50, for a total value of $99,067.50. Following the completion of the transaction, the director now directly owns 41,470 shares in the company, valued at $12,337,325. The disclosure for this sale can be found here. Insiders sold 33,093 shares of company stock worth $9,915,511 over the last three months. Insiders own 0.21% of the company’s stock.
A number of large investors have recently made changes to their positions in COST. Cetera Investment Advisers lifted its position in shares of Costco Wholesale by 3.9% during the 3rd quarter. Cetera Investment Advisers now owns 2,588 shares of the retailer’s stock valued at $743,000 after buying an additional 97 shares in the last quarter. WT Wealth Management purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at about $336,000. Lyell Wealth Management LP lifted its position in shares of Costco Wholesale by 0.3% during the 3rd quarter. Lyell Wealth Management LP now owns 22,127 shares of the retailer’s stock valued at $6,375,000 after buying an additional 72 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Costco Wholesale by 112.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 18,829 shares of the retailer’s stock valued at $5,425,000 after buying an additional 9,973 shares in the last quarter. Finally, Goelzer Investment Management Inc. lifted its position in shares of Costco Wholesale by 0.6% during the 3rd quarter. Goelzer Investment Management Inc. now owns 17,198 shares of the retailer’s stock valued at $4,955,000 after buying an additional 100 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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