Citigroup Cuts Costco Wholesale (COST) Price Target to $238.00

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Costco Wholesale (NASDAQ:COST) had its price objective decreased by investment analysts at Citigroup from $257.00 to $238.00 in a research report issued to clients and investors on Sunday. The brokerage currently has a “neutral” rating on the retailer’s stock. Citigroup’s target price would indicate a potential upside of 5.84% from the stock’s previous close.

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. BMO Capital Markets set a $260.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Monday, September 10th. Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Tuesday, September 11th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $236.85.

Shares of COST stock traded down $8.34 during trading on Friday, reaching $224.86. The company’s stock had a trading volume of 2,860,655 shares, compared to its average volume of 2,187,973. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The firm has a market cap of $98.54 billion, a PE ratio of 32.92, a P/E/G ratio of 2.87 and a beta of 0.90. Costco Wholesale has a one year low of $175.79 and a one year high of $245.16.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.02. The business had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. On average, equities analysts predict that Costco Wholesale will post 7.7 earnings per share for the current fiscal year.

In related news, VP Roland Michael Vachris sold 6,600 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the transaction, the vice president now directly owns 17,282 shares in the company, valued at $3,903,658.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total transaction of $5,029,200.00. Following the transaction, the insider now owns 322,958 shares in the company, valued at $72,187,572.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,312 shares of company stock worth $13,847,852. 0.74% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Costco Wholesale by 0.4% during the third quarter. Vanguard Group Inc. now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after buying an additional 158,722 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Costco Wholesale by 3.4% in the third quarter. BlackRock Inc. now owns 28,041,444 shares of the retailer’s stock valued at $6,586,376,000 after purchasing an additional 919,651 shares during the last quarter. FMR LLC increased its holdings in shares of Costco Wholesale by 0.5% in the third quarter. FMR LLC now owns 10,618,916 shares of the retailer’s stock valued at $2,494,171,000 after purchasing an additional 48,021 shares during the last quarter. Capital World Investors increased its holdings in shares of Costco Wholesale by 12.0% in the third quarter. Capital World Investors now owns 9,908,138 shares of the retailer’s stock valued at $2,327,223,000 after purchasing an additional 1,064,167 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Costco Wholesale by 0.6% in the second quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock valued at $1,301,817,000 after purchasing an additional 37,778 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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