Costco Wholesale Co. (NASDAQ:COST)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a report issued on Friday. They currently have a $185.00 price objective on the retailer’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 8.33% from the company’s previous close.
A number of other research firms also recently issued reports on COST. Barclays PLC reiterated an “equal weight” rating and issued a $170.00 target price (up previously from $158.00) on shares of Costco Wholesale in a research report on Friday, March 3rd. BMO Capital Markets restated an “outperform” rating and set a $180.00 price target on shares of Costco Wholesale in a report on Friday, March 3rd. Northcoast Research downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Friday, March 3rd. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a report on Friday, March 3rd. Finally, Cowen and Company set a $190.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $179.28.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.36% during trading on Friday, hitting $170.77. The company’s stock had a trading volume of 2,257,905 shares. The stock has a market cap of $74.96 billion, a PE ratio of 31.50 and a beta of 0.89. The company has a 50-day moving average price of $168.11 and a 200-day moving average price of $160.94. Costco Wholesale has a one year low of $138.57 and a one year high of $178.71.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The company earned $29.77 billion during the quarter, compared to analysts’ expectations of $29.75 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Costco Wholesale will post $5.66 EPS for the current fiscal year.
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In related news, Director James D. Sinegal sold 17,000 shares of Costco Wholesale stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $164.52, for a total transaction of $2,796,840.00. Following the completion of the transaction, the director now directly owns 792,594 shares of the company’s stock, valued at approximately $130,397,564.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Mckay sold 4,948 shares of Costco Wholesale stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $168.25, for a total transaction of $832,501.00. Following the transaction, the insider now directly owns 64,532 shares of the company’s stock, valued at $10,857,509. The disclosure for this sale can be found here. Insiders have sold a total of 125,948 shares of company stock valued at $20,932,141 over the last three months. 0.74% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Barometer Capital Management Inc. purchased a new position in shares of Costco Wholesale during the first quarter valued at about $168,000. Klingman & Associates LLC increased its position in shares of Costco Wholesale by 25.8% in the third quarter. Klingman & Associates LLC now owns 1,218 shares of the retailer’s stock valued at $186,000 after buying an additional 250 shares in the last quarter. New Capital Management LP bought a new position in shares of Costco Wholesale during the fourth quarter worth $201,000. Verus Financial Partners Inc. bought a new position in shares of Costco Wholesale during the first quarter worth $215,000. Finally, Howland Capital Management LLC bought a new position in shares of Costco Wholesale during the first quarter worth $216,000. 73.12% of the stock is owned by hedge funds and other institutional investors.
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.
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