Costco Wholesale Corporation (NASDAQ:COST) was upgraded by analysts at TheStreet from a “c” rating to a “b” rating in a research note issued on Monday.
Other equities analysts have also recently issued reports about the company. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale Corporation in a report on Thursday, October 5th. BMO Capital Markets set a $160.00 target price on Costco Wholesale Corporation and gave the stock a “hold” rating in a report on Saturday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $162.00 target price (down from $168.00) on shares of Costco Wholesale Corporation in a report on Friday, October 6th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $190.00 target price (up from $187.00) on shares of Costco Wholesale Corporation in a report on Monday. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale Corporation has an average rating of “Buy” and a consensus price target of $178.50.
Shares of Costco Wholesale Corporation (COST) opened at 156.87 on Monday. The company has a market capitalization of $68.58 billion, a price-to-earnings ratio of 25.80 and a beta of 0.94. The firm has a 50 day moving average price of $159.88 and a 200 day moving average price of $164.64. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 22.33% and a net margin of 2.08%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. Equities analysts forecast that Costco Wholesale Corporation will post $6.43 EPS for the current year.
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In related news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Monday, October 2nd. The stock was 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 in the company, valued at $1,150,152.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock valued at $481,760. 0.74% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in Costco Wholesale Corporation by 4.1% in the first 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 during the last quarter. Mechanics Bank Trust Department lifted its stake in Costco Wholesale Corporation by 4.8% in the second 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 during the last quarter. Cadinha & Co. LLC lifted its stake in Costco Wholesale Corporation by 7.3% in the second 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 during the last quarter. Main Street Research LLC lifted its stake in Costco Wholesale Corporation by 4.9% in the first 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 during the last quarter. Finally, Stephens Inc. AR lifted its stake in Costco Wholesale Corporation by 3.1% in the first 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 during the last quarter. 72.34% of the stock is owned by institutional investors and hedge funds.
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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