Several other brokerages have also recently commented on COST. BMO Capital Markets reiterated an outperform rating and issued a $195.00 price target on shares of Costco Wholesale Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) cut shares of Costco Wholesale Corporation from a conviction-buy rating to a neutral rating and decreased their price target for the stock from $197.00 to $176.00 in a research note on Friday, June 16th. Cowen and Company reiterated an outperform rating and issued a $190.00 price target on shares of Costco Wholesale Corporation in a research note on Monday, June 19th. Deutsche Bank AG cut shares of Costco Wholesale Corporation from a buy rating to a hold rating and boosted their price target for the stock from $142.11 to $167.11 in a research note on Monday, June 19th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Costco Wholesale Corporation in a research note on Monday, June 19th. Eleven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $178.50.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at 160.77 on Monday. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. The firm has a market cap of $70.29 billion, a price-to-earnings ratio of 26.44 and a beta of 0.94. The stock’s 50 day moving average price is $160.74 and its 200-day moving average price is $164.19.
Costco Wholesale Corporation (NASDAQ:COST) last issued its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.06. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. Costco Wholesale Corporation’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. On average, analysts forecast that Costco Wholesale Corporation will post $6.43 EPS for the current year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 3,000 shares of company stock valued at $481,760. Corporate insiders own 0.74% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Waldron LP acquired a new stake in Costco Wholesale Corporation during the first quarter valued at $223,000. Great West Life Assurance Co. Can grew its position in Costco Wholesale Corporation by 1.4% during the first quarter. Great West Life Assurance Co. Can now owns 416,137 shares of the retailer’s stock valued at $69,772,000 after buying an additional 5,582 shares during the period. Willingdon Wealth Management grew its position in Costco Wholesale Corporation by 2.3% during the first quarter. Willingdon Wealth Management now owns 20,134 shares of the retailer’s stock valued at $3,376,000 after buying an additional 450 shares during the period. WASHINGTON TRUST Co grew its position in Costco Wholesale Corporation by 319.4% during the first quarter. WASHINGTON TRUST Co now owns 27,867 shares of the retailer’s stock valued at $4,672,000 after buying an additional 21,222 shares during the period. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in Costco Wholesale Corporation during the first quarter valued at $201,000. 72.49% of the stock is owned by hedge funds and other institutional investors.
About Costco Wholesale Corporation
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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