Costco Wholesale Co. (COST) Rating Lowered to Hold at Vetr Inc.

Costco Wholesale Co. (NASDAQ:COST) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, November 6th. They currently have a $171.07 target price on the retailer’s stock. Vetr‘s price objective indicates a potential downside of 0.32% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, October 20th. TheStreet upgraded Costco Wholesale from a “c” rating to a “b” rating in a report on Monday, October 9th. Credit Suisse Group reiterated an “outperform” rating on shares of Costco Wholesale in a report on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $173.00 price objective on shares of Costco Wholesale in a report on Monday, October 9th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $192.00 price objective on shares of Costco Wholesale in a report on Monday, October 9th. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $178.34.

Shares of Costco Wholesale (COST) traded down $0.86 on Monday, hitting $171.62. The stock had a trading volume of 789,620 shares, compared to its average volume of 2,760,000. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. Costco Wholesale has a twelve month low of $150.00 and a twelve month high of $183.18. The firm has a market capitalization of $74,620.00, a price-to-earnings ratio of 29.64, a PEG ratio of 2.75 and a beta of 0.93.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities analysts predict that Costco Wholesale will post 6.45 EPS for the current fiscal year.

In related news, VP Richard A. Galanti sold 5,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the completion of the transaction, the vice president now directly owns 41,396 shares in the company, valued at $6,647,369.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard M. Libenson sold 2,350 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $162.00, for a total value of $380,700.00. Following the transaction, the director now owns 4,109 shares of the company’s stock, valued at $665,658. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,842 shares of company stock valued at $5,128,658. 0.74% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC acquired a new position in Costco Wholesale during the third quarter valued at approximately $102,000. Jacobus Wealth Management Inc. acquired a new position in Costco Wholesale during the third quarter valued at approximately $103,000. Delta Asset Management LLC TN boosted its position in Costco Wholesale by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after purchasing an additional 65 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $101,000. Finally, Shamrock Asset Management LLC lifted its position in shares of Costco Wholesale by 171.3% in the third quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after buying an additional 418 shares during the last quarter. 73.54% of the stock is owned by hedge funds and other institutional investors.

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About Costco Wholesale

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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