BMO Capital Markets Upgrades Costco Wholesale (COST) to “Outperform”

Costco Wholesale (NASDAQ:COST) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday. The firm presently has a $215.00 price target on the retailer’s stock, up from their previous price target of $192.73. BMO Capital Markets’ price target would suggest a potential upside of 14.16% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Deutsche Bank reissued a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a report on Tuesday, September 5th. Citigroup increased their target price on Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a report on Friday, October 6th. Oppenheimer reissued a “buy” rating and set a $185.00 target price on shares of Costco Wholesale in a report on Thursday, August 31st. Morgan Stanley cut Costco Wholesale from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Zacks Investment Research cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $187.32.

Costco Wholesale (NASDAQ:COST) opened at $188.33 on Monday. Costco Wholesale has a fifty-two week low of $150.00 and a fifty-two week high of $195.35. The company has a market capitalization of $84,221.00, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. equities research analysts expect that Costco Wholesale will post 6.5 EPS for the current fiscal year.

In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the sale, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard M. Libenson sold 20,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $193.03, for a total value of $3,860,600.00. Following the sale, the director now directly owns 3,919 shares of the company’s stock, valued at approximately $756,484.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,842 shares of company stock valued at $10,347,448. 0.74% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Accredited Investors Inc. boosted its position in shares of Costco Wholesale by 0.8% during the first quarter. Accredited Investors Inc. now owns 2,150 shares of the retailer’s stock worth $361,000 after buying an additional 17 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of Costco Wholesale during the first quarter worth $202,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Costco Wholesale by 14.3% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 94,462 shares of the retailer’s stock worth $15,839,000 after buying an additional 11,836 shares during the period. Vident Investment Advisory LLC purchased a new position in shares of Costco Wholesale during the first quarter worth $2,416,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Costco Wholesale by 11.5% during the first quarter. Venturi Wealth Management LLC now owns 42,965 shares of the retailer’s stock worth $7,310,000 after buying an additional 4,423 shares during the period. 71.22% of the stock is owned by institutional investors.

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Costco Wholesale 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 (NASDAQ:COST)

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