Costco Wholesale Corporation (COST) Given a $160.00 Price Target at BMO Capital Markets
BMO Capital Markets set a $160.00 price target on Costco Wholesale Corporation (NASDAQ:COST) in a research report report published on Saturday morning. The brokerage currently has a hold rating on the retailer’s stock.
Other equities analysts have also recently issued reports about the company. UBS AG upgraded Costco Wholesale Corporation from a market perform rating to an outperform rating in a report on Monday, June 26th. Sanford C. Bernstein restated a hold rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Vetr cut Costco Wholesale Corporation from a buy rating to a sell rating and set a $158.38 price target on the stock. in a report on Monday, June 19th. Cowen and Company restated an outperform rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Finally, Stifel Nicolaus set a $173.00 price target on Costco Wholesale Corporation and gave the stock a buy rating in a report on Thursday, August 3rd. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $178.39.
Shares of Costco Wholesale Corporation (NASDAQ COST) traded down 5.97% during mid-day trading on Friday, hitting $157.09. 18,001,179 shares of the company were exchanged. The company has a market capitalization of $68.68 billion, a price-to-earnings ratio of 25.84 and a beta of 0.94. The firm has a 50 day moving average of $159.96 and a 200 day moving average of $164.83. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. Costco Wholesale Corporation also was the recipient of unusually large options trading on Thursday. Traders purchased 21,435 call options on the company. This represents an increase of 266% compared to the average volume of 5,855 call options.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Equities research analysts forecast that Costco Wholesale Corporation will post $6.43 earnings per share for the current year.
In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $157.59, for a total transaction of $157,590.00. Following the transaction, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 3,000 shares of company stock worth $481,760. 0.74% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. increased its stake in Costco Wholesale Corporation by 0.3% in the 2nd quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock worth $168,000 after purchasing an additional 3 shares during the period. Brightworth grew its position in shares of Costco Wholesale Corporation by 0.3% in the 2nd quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after buying an additional 4 shares during the last quarter. Pioneer Trust Bank N A OR grew its position in shares of Costco Wholesale Corporation by 0.4% in the 2nd quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after buying an additional 7 shares during the last quarter. SVA Plumb Wealth Management LLC grew its position in shares of Costco Wholesale Corporation by 0.3% in the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after buying an additional 7 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Costco Wholesale Corporation by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock worth $223,000 after buying an additional 7 shares during the last quarter. 72.35% of the stock is currently owned by institutional investors and hedge funds.
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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