Robert W. Baird Reiterates “Buy” Rating for Costco Wholesale Corporation (COST)
Costco Wholesale Corporation (NASDAQ:COST)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a note issued to investors on Thursday. They currently have a $200.00 price objective on the retailer’s stock. Robert W. Baird’s price objective indicates a potential upside of 26.39% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Northcoast Research raised shares of Costco Wholesale Corporation from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, July 7th. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $185.00 to $160.00 in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) downgraded shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and reduced their price target for the company from $197.00 to $176.00 in a report on Friday, June 16th. Finally, BidaskClub downgraded shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $179.35.
Costco Wholesale Corporation (COST) opened at 158.24 on Thursday. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The firm has a 50-day moving average of $155.42 and a 200-day moving average of $166.48. The stock has a market capitalization of $69.40 billion, a price-to-earnings ratio of 27.47 and a beta of 0.93. Costco Wholesale Corporation also saw some unusual options trading activity on Thursday. Investors purchased 6,031 put options on the stock. This is an increase of approximately 231% compared to the average volume of 1,822 put options.
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In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total transaction of $160,280.00. Following the completion of the sale, the director now directly owns 5,974 shares of the company’s stock, valued at approximately $957,512.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $181.30, for a total transaction of $906,500.00. Following the sale, the vice president now directly owns 48,845 shares of the company’s stock, valued at $8,855,598.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,000 shares of company stock valued at $2,677,430. Company insiders own 0.74% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in COST. Delta Asset Management LLC TN increased 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 worth $100,000 after buying an additional 65 shares during the period. Almanack Investment Partners LLC. bought a new position in Costco Wholesale Corporation during the second quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new position in Costco Wholesale Corporation during the second quarter worth approximately $107,000. Mercer Capital Advisers Inc. increased 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 worth $110,000 after buying an additional 23 shares during the period. Finally, Mosaic Family Wealth LLC increased its position in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the period. 72.51% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation Company Profile
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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