Cowen Reaffirms Buy Rating for Costco Wholesale (COST)

Cowen reaffirmed their buy rating on shares of Costco Wholesale (NASDAQ:COST) in a report issued on Friday. The brokerage currently has a $240.00 price target on the retailer’s stock.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Co raised shares of Costco Wholesale from a market perform rating to an outperform rating and cut their price target for the stock from $191.42 to $188.91 in a report on Monday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $206.00 to $212.00 and gave the stock an overweight rating in a report on Friday, June 1st. Gordon Haskett downgraded shares of Costco Wholesale from a buy rating to an accumulate rating in a research note on Wednesday, July 25th. Royal Bank of Canada increased their price objective on shares of Costco Wholesale to $213.00 and gave the company an outperform rating in a research note on Tuesday, May 29th. Finally, Citigroup increased their price objective on shares of Costco Wholesale from $222.00 to $250.00 and gave the company a buy rating in a research note on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $206.74.

Shares of Costco Wholesale opened at $220.31 on Friday, Marketbeat.com reports. Costco Wholesale has a 1-year low of $150.06 and a 1-year high of $225.48. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The company has a market cap of $96.62 billion, a PE ratio of 37.85, a PEG ratio of 2.73 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.02. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. research analysts forecast that Costco Wholesale will post 6.77 earnings per share for the current year.

In other news, insider Daniel M. Hines sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $204.67, for a total transaction of $1,432,690.00. Following the completion of the transaction, the insider now owns 23,853 shares of the company’s stock, valued at $4,881,993.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total transaction of $655,950.00. The disclosure for this sale can be found here. Insiders have sold 41,491 shares of company stock valued at $8,754,977 in the last ninety days. Insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Costco Wholesale by 3.3% during the second quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock worth $5,667,910,000 after buying an additional 858,755 shares during the period. FMR LLC increased its position in shares of Costco Wholesale by 13.5% during the second quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock worth $2,209,107,000 after buying an additional 1,256,873 shares during the period. Fisher Asset Management LLC increased its position in shares of Costco Wholesale by 4.4% during the second quarter. Fisher Asset Management LLC now owns 2,597,844 shares of the retailer’s stock worth $542,898,000 after buying an additional 109,028 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock worth $376,180,000 after buying an additional 23,227 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Costco Wholesale by 8.6% during the second quarter. Bank of Montreal Can now owns 1,705,602 shares of the retailer’s stock worth $356,437,000 after buying an additional 134,814 shares during the period. Institutional investors own 71.53% 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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