Costco Wholesale Corporation (NASDAQ:COST) Downgraded to “Market Perform” at BMO Capital Markets

Costco Wholesale Corporation (NASDAQ:COST) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, July 10th, Marketbeat.com reports. They presently have a $160.00 price objective on the retailer’s stock, down from their prior price objective of $185.00. BMO Capital Markets’ target price points to a potential upside of 5.97% from the stock’s current price.

COST has been the topic of several other research reports. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday, July 6th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a research report on Friday, July 7th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Finally, Vetr upgraded shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $165.58 price objective on the stock in a report on Thursday, June 29th. 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 company’s stock. Costco Wholesale Corporation has a consensus rating of “Buy” and a consensus target price of $179.44.

Costco Wholesale Corporation (NASDAQ COST) traded down 0.17% during midday trading on Monday, hitting $150.99. 3,175,477 shares of the stock were exchanged. The stock has a market cap of $66.22 billion, a price-to-earnings ratio of 26.21 and a beta of 0.94. The firm’s 50-day moving average is $165.38 and its 200 day moving average is $168.54. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18.

Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $28.86 billion during the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. Equities research analysts expect that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.

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In related news, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total value of $906,600.00. Following the completion of the sale, the insider now owns 28,786 shares in the company, valued at approximately $5,219,477.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total transaction of $160,280.00. Following the completion of 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 three months, insiders sold 14,000 shares of company stock valued at $2,518,180. Insiders own 0.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Capital Advisers Inc. increased its stake 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 worth $111,000 after buying an additional 201 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Costco Wholesale Corporation during the second quarter worth about $107,000. Mosaic Family Wealth LLC boosted its stake 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 worth $117,000 after buying an additional 100 shares during the period. CKW Financial Group boosted its stake in Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after buying an additional 200 shares during the last quarter. Finally, Ledyard National Bank boosted its stake in 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 and hedge funds 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.

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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