Costco Wholesale Corporation’s (NASDAQ:COST) Hold Rating Reaffirmed at Jefferies Group LLC

Costco Wholesale Corporation (NASDAQ:COST)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday, October 6th. They currently have a $162.00 price objective on the retailer’s stock, down from their prior price objective of $168.00. Jefferies Group LLC’s price objective would indicate a potential upside of 2.01% from the company’s previous close. Jefferies Group also issued estimates for Costco Wholesale Corporation’s Q4 2017 earnings at $2.05 EPS, FY2017 earnings at $5.79 EPS, Q1 2018 earnings at $1.33 EPS, Q2 2018 earnings at $1.41 EPS, Q3 2018 earnings at $1.55 EPS, Q4 2018 earnings at $2.19 EPS, FY2018 earnings at $6.50 EPS, FY2019 earnings at $6.98 EPS, FY2020 earnings at $7.52 EPS, FY2021 earnings at $8.20 EPS and FY2022 earnings at $9.00 EPS.

COST has been the topic of several other reports. UBS AG upgraded shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. BidaskClub upgraded shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a report on Thursday, October 5th. Vetr cut shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating and set a $183.04 price target on the stock. in a report on Wednesday, September 27th. Finally, Robert W. Baird restated an “outperform” rating and set a $200.00 price target on shares of Costco Wholesale Corporation in a report on Monday, September 25th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale Corporation presently has an average rating of “Buy” and an average target price of $178.50.

Shares of Costco Wholesale Corporation (COST) traded down 0.639% during midday trading on Friday, reaching $157.795. The company’s stock had a trading volume of 1,173,188 shares. The stock’s 50-day moving average price is $160.27 and its 200-day moving average price is $164.46. The company has a market cap of $68.99 billion, a P/E ratio of 25.953 and a beta of 0.94. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18.

Costco Wholesale Corporation (NASDAQ:COST) last announced its 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 Corporation had a net margin of 2.08% and a return on equity of 22.33%. The company had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the previous year, the business earned $1.77 EPS. The company’s revenue was up 15.7% on a year-over-year basis. On average, analysts expect that Costco Wholesale Corporation will post $6.42 EPS for the current fiscal year.

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In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the sale, the director now directly owns 6,974 shares of the company’s stock, valued at $1,099,032.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,000 shares of company stock worth $481,760 over the last three months. 0.74% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COST. Vanguard Group Inc. boosted its stake in Costco Wholesale Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after acquiring an additional 937,121 shares during the last quarter. BlackRock Inc. boosted its stake in Costco Wholesale Corporation by 2.9% in the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares during the last quarter. State Street Corp boosted its stake in Costco Wholesale Corporation by 1.3% in the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock valued at $3,040,476,000 after acquiring an additional 239,479 shares during the last quarter. Capital World Investors boosted its stake in Costco Wholesale Corporation by 6.0% in the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares during the last quarter. Finally, FMR LLC boosted its stake in Costco Wholesale Corporation by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock valued at $2,028,898,000 after acquiring an additional 177,200 shares during the last quarter. 72.49% of the stock is currently 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.

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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