Costco Wholesale Corp. (NASDAQ:COST) has been assigned a $175.00 price objective by stock analysts at Robert W. Baird in a research note issued to investors on Monday. The brokerage currently has a a “buy” rating on the retailer’s stock. Robert W. Baird’s price target would indicate a potential upside of 16.29% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $171.00 price target on shares of Costco Wholesale Corp. in a research note on Wednesday, July 6th. Zacks Investment Research downgraded shares of Costco Wholesale Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Jefferies Group restated a “hold” rating on shares of Costco Wholesale Corp. in a research report on Monday, September 12th. Nomura restated a “buy” rating and set a $185.00 price objective on shares of Costco Wholesale Corp. in a research report on Thursday, August 25th. Finally, Argus restated a “buy” rating and set a $175.00 price objective on shares of Costco Wholesale Corp. in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Costco Wholesale Corp. presently has a consensus rating of “Buy” and an average price target of $172.74.
Costco Wholesale Corp. (NASDAQ:COST) opened at 150.48 on Monday. Costco Wholesale Corp. has a 52-week low of $138.57 and a 52-week high of $169.73. The stock has a 50 day moving average price of $157.05 and a 200 day moving average price of $156.30. The company has a market capitalization of $65.84 billion, a price-to-earnings ratio of 28.23 and a beta of 0.71.
Costco Wholesale Corp. (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.04. The business earned $35.73 billion during the quarter. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. Analysts anticipate that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.
In other news, CFO Richard A. Galanti sold 2,400 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $167.08, for a total transaction of $400,992.00. Following the transaction, the chief financial officer now owns 30,536 shares of the company’s stock, valued at approximately $5,101,954.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Douglas W. Schutt sold 14,656 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $166.76, for a total transaction of $2,444,034.56. Following the transaction, the vice president now directly owns 40,184 shares in the company, valued at approximately $6,701,083.84. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Norman Fields Gottscho Capital Management LLC boosted its position in Costco Wholesale Corp. by 2.5% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 66,545 shares of the retailer’s stock worth $10,149,000 after buying an additional 1,635 shares during the period. West Oak Capital LLC boosted its position in Costco Wholesale Corp. by 1.2% in the third quarter. West Oak Capital LLC now owns 9,521 shares of the retailer’s stock worth $1,452,000 after buying an additional 115 shares during the period. Cullinan Associates Inc. boosted its position in Costco Wholesale Corp. by 7.7% in the third quarter. Cullinan Associates Inc. now owns 29,325 shares of the retailer’s stock worth $4,472,000 after buying an additional 2,095 shares during the period. Macquarie Group Ltd. boosted its position in Costco Wholesale Corp. by 97.7% in the second quarter. Macquarie Group Ltd. now owns 86,400 shares of the retailer’s stock worth $13,569,000 after buying an additional 42,700 shares during the period. Finally, Carnick & Kubik Group LLC bought a new position in Costco Wholesale Corp. during the second quarter worth about $1,807,000. 73.02% of the stock is currently owned by institutional investors.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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