Costco Wholesale Corporation (NASDAQ:COST) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Monday, July 10th, MarketBeat reports. They currently have a $160.00 target price on the retailer’s stock, down from their previous target price of $185.00. BMO Capital Markets’ price objective points to a potential upside of 6.35% from the company’s current price.
Other equities analysts have also issued research reports about the company. Gordon Haskett initiated coverage on Costco Wholesale Corporation in a research note on Tuesday, May 9th. They set an “accumulate” rating and a $191.00 price target on the stock. Credit Suisse Group raised Costco Wholesale Corporation to a “buy” rating and set a $175.00 price target on the stock in a research note on Thursday, April 6th. Vetr raised Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $175.18 price target on the stock in a research note on Wednesday, April 5th. Oppenheimer Holdings, Inc. set a $185.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Saturday, April 1st. Finally, Robert W. Baird set a $200.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Thursday, March 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have given a buy rating to the stock. Costco Wholesale Corporation has a consensus rating of “Buy” and an average target price of $179.44.
Costco Wholesale Corporation (COST) traded down 0.36% on Monday, reaching $150.44. The company had a trading volume of 4,078,020 shares. The company has a market capitalization of $65.98 billion, a price-to-earnings ratio of 26.12 and a beta of 0.94. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The company’s 50 day moving average price is $164.54 and its 200-day moving average price is $168.41. Costco Wholesale Corporation also was the target of some unusual options trading on Thursday. Stock investors purchased 6,031 put options on the stock. This is an increase of approximately 231% compared to the average volume of 1,822 put options.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
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In other news, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the transaction, the insider now owns 28,786 shares in the company, valued at $5,219,477.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the transaction, the director now owns 5,974 shares in the company, valued at approximately $957,512.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,000 shares of company stock worth $2,518,180. 0.74% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Delta Asset Management LLC TN raised its position in shares of 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 buying an additional 65 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale Corporation during the second quarter valued at approximately $107,000. Mercer Capital Advisers Inc. increased its position in shares of Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after buying an additional 201 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. Finally, Ledyard National Bank increased its position in shares of Costco Wholesale Corporation by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after buying an additional 130 shares during the last quarter. Institutional investors own 73.91% 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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