BMO Capital Markets set a $185.00 price objective on Costco Wholesale Corporation (NASDAQ:COST) in a report released on Wednesday, June 28th. The firm currently has an outperform rating on the retailer’s stock.
Several other equities research analysts also recently commented on COST. Guggenheim reissued a neutral rating on shares of Costco Wholesale Corporation in a report on Friday, March 3rd. Cowen and Company set a $190.00 price target on Costco Wholesale Corporation and gave the company a buy rating in a report on Friday, March 3rd. Instinet reaffirmed a buy rating on shares of Costco Wholesale Corporation in a report on Friday, March 3rd. Northcoast Research downgraded Costco Wholesale Corporation from a buy rating to a neutral rating in a report on Friday, March 3rd. Finally, Barclays PLC reaffirmed an equal weight rating and set a $170.00 price target (up previously from $158.00) on shares of Costco Wholesale Corporation in a report on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $179.44.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 150.99 on Wednesday. The firm has a market capitalization of $66.22 billion, a PE ratio of 26.21 and a beta of 0.94. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The stock has a 50 day moving average of $164.54 and a 200-day moving average of $168.41. Costco Wholesale Corporation also saw some unusual options trading on Thursday. Stock traders bought 6,031 put options on the stock. This is an increase of approximately 231% compared to the typical volume of 1,822 put options.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The company had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. Equities analysts anticipate 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 Costco Wholesale Corporation stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $181.32, for a total transaction of $906,600.00. Following the sale, the insider now directly owns 28,786 shares of the company’s stock, valued at $5,219,477.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the sale, the director now directly owns 5,974 shares in the company, valued at $957,512.72. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,518,180 over the last three months. Insiders own 0.74% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Costco Wholesale Corporation by 1.3% in the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after buying an additional 239,479 shares in the last quarter. FMR LLC raised its position in Costco Wholesale Corporation by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after buying an additional 177,200 shares in the last quarter. Bank of New York Mellon Corp raised its position in Costco Wholesale Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,254,387 shares of the retailer’s stock worth $1,048,798,000 after buying an additional 79,201 shares in the last quarter. Ameriprise Financial Inc. raised its position in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after buying an additional 1,753,741 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in Costco Wholesale Corporation by 8.6% in the first quarter. Janus Capital Management LLC now owns 4,582,908 shares of the retailer’s stock worth $768,494,000 after buying an additional 361,581 shares in the last quarter. 73.91% of the stock is currently owned by institutional investors.
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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