Costco Wholesale (NASDAQ:COST) PT Raised to $256.00 at Nomura

Costco Wholesale (NASDAQ:COST) had its target price lifted by analysts at Nomura from $235.00 to $256.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the retailer’s stock. Nomura’s target price would indicate a potential downside of 8.39% from the company’s current price.

A number of other research firms have also recently issued reports on COST. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. UBS Group reissued a “hold” rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Stifel Nicolaus boosted their target price on Costco Wholesale from $261.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Finally, Oppenheimer boosted their target price on Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $259.39.

Shares of Costco Wholesale stock opened at $279.44 on Thursday. 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 has a 12 month low of $189.51 and a 12 month high of $280.00. The business’s fifty day moving average is $258.90. The firm has a market capitalization of $119.37 billion, a PE ratio of 40.91, a PEG ratio of 3.81 and a beta of 0.94.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The business had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research 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 approved a share repurchase plan on Friday, April 26th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now directly owns 41,803 shares in the company, valued at $11,213,654.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James C. Klauer sold 5,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the completion of the sale, the insider now owns 48,310 shares in the company, valued at $12,344,654.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,136 shares of company stock worth $7,380,374. Corporate insiders own 0.21% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Horan Capital Advisors LLC. bought a new stake in Costco Wholesale in the first quarter valued at approximately $26,000. ERTS Wealth Advisors LLC bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $30,000. Arbor Wealth Management LLC bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $33,000. Thor Advisors LLC bought a new stake in Costco Wholesale in the first quarter valued at approximately $35,000. Finally, C J Advisory Inc bought a new stake in Costco Wholesale in the first quarter valued at approximately $36,000. Institutional investors own 71.08% 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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