Evercore ISI Reiterates Buy Rating for Costco Wholesale (NASDAQ:COST)

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Evercore ISI reaffirmed their buy rating on shares of Costco Wholesale (NASDAQ:COST) in a report released on Sunday, AnalystRatings.com reports.

A number of other research analysts also recently weighed in on the stock. Gordon Haskett downgraded shares of Costco Wholesale from an accumulate rating to a hold rating and set a $244.90 target price for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Tigress Financial reaffirmed a buy rating on shares of Costco Wholesale in a research report on Friday, June 28th. Loop Capital raised their target price on shares of Costco Wholesale to $300.00 and gave the company a buy rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. BidaskClub downgraded shares of Costco Wholesale from a strong-buy rating to a buy rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research raised shares of Costco Wholesale from a hold rating to a buy rating and set a $272.00 target price for the company in a research report on Tuesday, June 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $266.04.

Costco Wholesale stock opened at $269.95 on Friday. The company has a market capitalization of $120.48 billion, a P/E ratio of 39.52, a P/E/G ratio of 3.84 and a beta of 0.95. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $284.31. The company has a fifty day simple moving average of $274.09. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. The business had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 earnings per share. As a group, analysts predict that Costco Wholesale will post 8.04 earnings per share for the current fiscal year.

Costco Wholesale announced that its Board of Directors has authorized a stock repurchase program on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to buy up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

In other news, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total value of $799,170.00. Following the completion of the transaction, the chief financial officer now directly owns 27,582 shares in the company, valued at approximately $7,347,568.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the transaction, the director now owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock valued at $7,380,374 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Several large investors have recently modified their holdings of COST. Horan Capital Advisors LLC. acquired a new position in Costco Wholesale during the 1st quarter worth approximately $26,000. Krane Funds Advisors LLC bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $26,000. Massey Quick Simon & CO. LLC bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $27,000. Arbor Wealth Management LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $33,000. Finally, Thor Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter worth approximately $35,000. Institutional investors own 71.20% of the company’s stock.

About Costco Wholesale

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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