Costco Wholesale (NASDAQ:COST) had its price objective increased by equities research analysts at Oppenheimer from $180.00 to $210.00 in a note issued to investors on Monday. The brokerage currently has an “outperform” rating on the retailer’s stock. Oppenheimer’s target price suggests a potential upside of 13.17% from the stock’s previous close. Oppenheimer also issued estimates for Costco Wholesale’s Q2 2018 earnings at $1.42 EPS, Q3 2018 earnings at $1.66 EPS, Q4 2018 earnings at $2.18 EPS and FY2019 earnings at $7.50 EPS.
A number of other analysts have also issued reports on COST. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, January 5th. Vetr upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 price objective on the stock in a report on Thursday, January 4th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a report on Thursday, October 5th. BMO Capital Markets set a $160.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a report on Saturday, October 7th. Finally, Robert W. Baird restated an “outperform” rating and issued a $200.00 price objective on shares of Costco Wholesale in a report on Monday, September 25th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $188.90.
Costco Wholesale (COST) traded down $0.73 during midday trading on Monday, hitting $185.56. 1,130,000 shares of the stock were exchanged, compared to its average volume of 3,160,000. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $81,500.00, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $195.35.
In other news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $188.62, for a total value of $943,100.00. Following the sale, the insider now owns 30,853 shares in the company, valued at $5,819,492.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $161.97, for a total transaction of $161,970.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at approximately $1,401,688.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,027 shares of company stock worth $14,914,835. 0.58% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in COST. Private Advisory Group LLC bought a new position in Costco Wholesale in the first quarter worth $1,261,000. Covington Capital Management lifted its position in Costco Wholesale by 2.4% in the first quarter. Covington Capital Management now owns 89,497 shares of the retailer’s stock worth $15,008,000 after purchasing an additional 2,086 shares during the period. Magellan Asset Management Ltd lifted its position in Costco Wholesale by 13.9% in the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock worth $732,000,000 after purchasing an additional 532,896 shares during the period. First Financial Equity Corporation bought a new position in Costco Wholesale in the first quarter worth $834,000. Finally, Bfsg LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $1,941,000. Institutional investors and hedge funds own 70.91% of the company’s stock.
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About Costco Wholesale
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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