Costco Wholesale (NASDAQ:COST) Earns Buy Rating from Analysts at Goldman Sachs Group

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Goldman Sachs Group assumed coverage on shares of Costco Wholesale (NASDAQ:COST) in a report released on Thursday, 24/7 WallStreet reports. The brokerage issued a buy rating and a $290.00 price target on the retailer’s stock.

COST has been the subject of several other research reports. Loop Capital raised their price target on Costco Wholesale to $290.00 and gave the stock a buy rating in a report on Monday, June 17th. They noted that the move was a valuation call. Morgan Stanley downgraded Meili from an equal weight rating to an underweight rating and lowered their price target for the stock from $14.00 to $4.20 in a report on Monday, June 3rd. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. UBS Group reissued a hold rating on shares of Bayerische Motoren Werke in a report on Friday, March 22nd. Finally, Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Tuesday, June 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued 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 $259.39.

Shares of COST stock opened at $279.44 on Thursday. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $280.00. The company’s 50-day moving average is $258.90. The company has a market capitalization of $122.89 billion, a P/E ratio of 40.91, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter last year, the company earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts predict that Costco Wholesale will post 8.04 EPS for the current fiscal year.

Costco Wholesale declared that its Board of Directors has authorized a stock repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In related news, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.39, for a total transaction of $799,170.00. Following the completion of the transaction, the chief financial officer now directly owns 27,582 shares in the company, valued at $7,347,568.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James C. Klauer sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the transaction, the insider now owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,136 shares of company stock valued at $7,380,374. 0.21% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in COST. Regent Investment Management LLC increased its position in shares of Costco Wholesale by 43.5% in the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock valued at $360,000 after buying an additional 450 shares in the last quarter. Raymond James & Associates increased its position in shares of Costco Wholesale by 8.5% in the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after buying an additional 36,675 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Costco Wholesale by 17.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after buying an additional 27,026 shares in the last quarter. Bernicke Wealth Management Ltd. increased its position in shares of Costco Wholesale by 3.3% in the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after buying an additional 127 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in shares of Costco Wholesale in the first quarter valued at approximately $401,000. Institutional investors own 71.08% of the company’s stock.

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.

Featured Article: Buy-Side Analysts

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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