Bank of America Corporation restated their buy rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a report published on Monday. The firm currently has a $192.00 price objective on the retailer’s stock.
COST has been the subject of several other research reports. UBS AG upgraded shares of Costco Wholesale Corporation from a market perform rating to an outperform rating in a research report on Monday, June 26th. Sanford C. Bernstein restated a hold rating on shares of Costco Wholesale Corporation in a research report on Thursday, July 6th. Vetr downgraded shares of Costco Wholesale Corporation from a buy rating to a sell rating and set a $158.38 price target for the company. in a research report on Monday, June 19th. Cowen and Company restated an outperform rating on shares of Costco Wholesale Corporation in a research report on Monday, July 24th. Finally, Stifel Nicolaus set a $173.00 price target on shares of Costco Wholesale Corporation and gave the stock a buy rating in a research report on Thursday, August 3rd. Eleven 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 stock. The company presently has a consensus rating of Buy and an average target price of $178.50.
Costco Wholesale Corporation (NASDAQ:COST) opened at 157.78 on Monday. The stock has a market cap of $68.98 billion, a price-to-earnings ratio of 25.95 and a beta of 0.94. The stock’s 50 day moving average price is $159.80 and its 200-day moving average price is $164.54. 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 issued its quarterly earnings data 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 business 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 22.33%. The company’s 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 earnings per share. Equities analysts expect that Costco Wholesale Corporation will post $6.43 EPS for the current year.
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In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the transaction, the director now directly owns 6,974 shares in the company, valued at approximately $1,099,032.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 3,000 shares of company stock worth $481,760. Company insiders own 0.74% of the company’s stock.
Several hedge funds have recently modified their holdings of COST. Waldron LP acquired a new position in shares of Costco Wholesale Corporation in the 1st quarter worth approximately $223,000. Tocqueville Asset Management L.P. lifted its holdings in shares of Costco Wholesale Corporation by 1.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,943 shares of the retailer’s stock worth $997,000 after acquiring an additional 105 shares during the last quarter. Quadrant Capital Management LLC lifted its holdings in shares of Costco Wholesale Corporation by 0.7% in the 1st quarter. Quadrant Capital Management LLC now owns 15,481 shares of the retailer’s stock worth $2,596,000 after acquiring an additional 100 shares during the last quarter. Advisor Partners LLC lifted its holdings in shares of Costco Wholesale Corporation by 1.6% in the 1st quarter. Advisor Partners LLC now owns 10,491 shares of the retailer’s stock worth $1,759,000 after acquiring an additional 166 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Costco Wholesale Corporation in the 1st quarter worth approximately $2,302,000. Hedge funds and other institutional investors own 72.34% of the company’s stock.
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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