Costco Wholesale (NASDAQ:COST) had its price objective upped by equities researchers at Loop Capital to $230.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the retailer’s stock. Loop Capital’s price objective indicates a potential upside of 10.83% from the stock’s previous close.
Several other equities research analysts have also recently commented on the company. Susquehanna Bancshares reaffirmed a “positive” rating on shares of Costco Wholesale in a research report on Thursday, June 7th. Robert W. Baird increased their price objective on Costco Wholesale from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. JPMorgan Chase & Co. increased their price objective on Costco Wholesale from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. Citigroup increased their price objective on Costco Wholesale from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Telsey Advisory Group raised their target price on Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $198.78.
Costco Wholesale opened at $207.53 on Wednesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. Costco Wholesale has a one year low of $150.00 and a one year high of $208.11. The firm has a market cap of $90.43 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating the consensus estimate of $1.68 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The company had revenue of $32.36 billion for the quarter, compared to analysts’ expectations of $31.89 billion. During the same period last year, the firm posted $1.40 earnings per share. Costco Wholesale’s revenue was up 12.1% compared to the same quarter last year. equities analysts anticipate that Costco Wholesale will post 6.76 EPS for the current fiscal year.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $186.91, for a total transaction of $560,730.00. Following the sale, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,617,519.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 12,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $184.46, for a total value of $2,213,520.00. Following the sale, the vice president now directly owns 22,903 shares in the company, valued at approximately $4,224,687.38. The disclosure for this sale can be found here. Insiders have sold a total of 50,884 shares of company stock worth $9,954,916 in the last three months. 0.58% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of COST. Clearbridge Investments LLC increased its stake in Costco Wholesale by 252.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,388,496 shares of the retailer’s stock worth $444,547,000 after acquiring an additional 1,711,003 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in Costco Wholesale by 1,913.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,146,393 shares of the retailer’s stock worth $216,015,000 after acquiring an additional 1,089,467 shares during the last quarter. Carmignac Gestion bought a new stake in Costco Wholesale in the 1st quarter worth approximately $169,704,000. Renaissance Technologies LLC increased its stake in Costco Wholesale by 73.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,100,913 shares of the retailer’s stock worth $391,022,000 after acquiring an additional 890,200 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Costco Wholesale in the 1st quarter worth approximately $70,796,000. 71.29% of the stock is currently owned by institutional investors.
About Costco Wholesale
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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