Bank of America Corporation reaffirmed their buy rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research report released on Monday morning. The brokerage currently has a $192.00 target price on the retailer’s stock.
COST has been the subject of several other reports. Deutsche Bank AG set a $172.00 target price on shares of Costco Wholesale Corporation and gave the company a hold rating in a research note on Monday, July 31st. UBS AG raised shares of Costco Wholesale Corporation from a market perform rating to an outperform rating in a report on Monday, June 26th. BMO Capital Markets lowered shares of Costco Wholesale Corporation from an outperform rating to a market perform rating and cut their price target for the stock from $185.00 to $160.00 in a report on Monday, July 10th. Robert W. Baird reissued a buy rating and issued a $200.00 price target on shares of Costco Wholesale Corporation in a report on Thursday, August 31st. Finally, Zacks Investment Research raised shares of Costco Wholesale Corporation from a hold rating to a buy rating and set a $180.00 price target for the company in a report on Tuesday, September 19th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $178.50.
Shares of Costco Wholesale Corporation (COST) opened at 157.87 on Monday. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The stock has a market capitalization of $69.02 billion, a PE ratio of 25.97 and a beta of 0.94. The stock has a 50 day moving average of $159.86 and a 200-day moving average of $164.59.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.33%. The firm had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Costco Wholesale Corporation will post $6.43 EPS for the current year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 3,000 shares of company stock worth $481,760 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Delta Asset Management LLC TN lifted its position in Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after buying an additional 65 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale Corporation in the second quarter valued at about $101,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale Corporation in the second quarter valued at about $107,000. Mercer Capital Advisers Inc. lifted its position in Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after buying an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC lifted its position in shares of Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after purchasing an additional 100 shares in the last quarter. 72.34% 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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