UBS AG reiterated their buy rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research note published on Friday morning, www.flashratings.com reports. UBS AG currently has a $190.00 target price on the retailer’s stock.
A number of other research firms have also recently weighed in on COST. Vetr raised shares of Costco Wholesale Corporation from a buy rating to a strong-buy rating and set a $182.22 target price on the stock in a research note on Monday, August 21st. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 24th. BidaskClub cut shares of Costco Wholesale Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Wells Fargo & Company reaffirmed a hold rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Finally, Morgan Stanley cut shares of Costco Wholesale Corporation from an overweight rating to an equal weight rating and decreased their target price for the stock from $190.00 to $165.00 in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $178.39.
Costco Wholesale Corporation (NASDAQ COST) opened at 157.09 on Friday. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The firm has a 50-day moving average price of $159.96 and a 200-day moving average price of $164.83. The company has a market capitalization of $68.68 billion, a price-to-earnings ratio of 25.84 and a beta of 0.94.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.33%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. On average, equities analysts anticipate that Costco Wholesale Corporation will post $6.43 earnings per share for the current fiscal year.
In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the sale, the director now owns 6,974 shares in the company, valued at approximately $1,150,152.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,000 shares of company stock worth $481,760 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in Costco Wholesale Corporation by 4.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after purchasing an additional 129,106 shares in the last quarter. Mechanics Bank Trust Department grew its position in Costco Wholesale Corporation by 4.8% in the 2nd quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock worth $5,366,000 after purchasing an additional 1,529 shares in the last quarter. Cadinha & Co. LLC grew its position in Costco Wholesale Corporation by 7.3% in the 2nd quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after purchasing an additional 8,518 shares in the last quarter. Main Street Research LLC grew its position in Costco Wholesale Corporation by 4.9% in the 1st quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock worth $10,850,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Stephens Inc. AR grew its position in Costco Wholesale Corporation by 3.1% in the 1st quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after purchasing an additional 1,350 shares in the last quarter. 72.34% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation Company Profile
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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