Costco Wholesale Corporation (NASDAQ:COST)‘s stock had its “buy” rating reissued by equities researchers at Citigroup Inc. in a research note issued on Monday. They currently have a $190.00 target price on the retailer’s stock, up from their previous target price of $187.00. Citigroup Inc.’s target price points to a potential upside of 21.12% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird reissued a “buy” rating and set a $200.00 price target on shares of Costco Wholesale Corporation in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $173.00 price target (down previously from $191.00) on shares of Costco Wholesale Corporation in a report on Friday, June 23rd. BidaskClub cut Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Northcoast Research raised Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Monday, June 19th. Twelve investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $178.50.
Costco Wholesale Corporation (NASDAQ COST) opened at 156.87 on Monday. The firm has a market capitalization of $68.58 billion, a price-to-earnings ratio of 25.80 and a beta of 0.94. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The firm’s 50-day moving average price is $159.88 and its 200 day moving average price is $164.64.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 22.33% and a net margin of 2.08%. The company had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Costco Wholesale Corporation’s revenue was up 15.7% on a year-over-year basis. On average, analysts predict that Costco Wholesale Corporation will post $6.43 EPS for the current year.
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In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total value of $159,250.00. Following the transaction, the director now owns 4,974 shares in the company, valued at $792,109.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $481,760. Corporate insiders own 0.74% of the company’s stock.
A number of large investors have recently made changes to their positions in COST. Delta Asset Management LLC TN boosted its holdings in Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in Costco Wholesale Corporation in the second quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new position in Costco Wholesale Corporation in the second quarter worth approximately $107,000. Mercer Capital Advisers Inc. boosted its holdings in Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its holdings in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.34% of the company’s stock.
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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