Costco Wholesale (COST) Price Target Cut to $240.00

Costco Wholesale (NASDAQ:COST) had its price objective lowered by investment analysts at Oppenheimer from $262.00 to $240.00 in a research report issued to clients and investors on Friday, The Fly reports. Oppenheimer’s price objective suggests a potential upside of 15.91% from the stock’s previous close. Oppenheimer also issued estimates for Costco Wholesale’s Q2 2019 earnings at $1.67 EPS, Q3 2019 earnings at $1.83 EPS, FY2019 earnings at $7.67 EPS and FY2020 earnings at $8.10 EPS.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets set a $260.00 target price on Costco Wholesale and gave the stock a “buy” rating in a report on Monday, September 10th. Bank of America set a $255.00 target price on Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, October 4th. Loop Capital set a $265.00 target price on Costco Wholesale and gave the stock a “buy” rating in a report on Wednesday, October 10th. BidaskClub downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th. Finally, Northcoast Research raised Costco Wholesale from a “neutral” rating to a “buy” rating in a report on Friday, October 12th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $240.77.

Costco Wholesale stock opened at $207.06 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. Costco Wholesale has a 12 month low of $175.79 and a 12 month high of $245.16. The firm has a market capitalization of $90.74 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 2.64 and a beta of 0.90.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 13th. The retailer reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.01). Costco Wholesale had a return on equity of 25.00% and a net margin of 2.25%. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.66 billion. During the same period last year, the firm posted $1.45 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale will post 7.71 EPS for the current year.

In other news, Director Richard M. Libenson sold 2,049 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $224.00, for a total value of $458,976.00. Following the completion of the transaction, the director now owns 3,049 shares in the company, valued at $682,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total value of $5,029,200.00. Following the completion of the transaction, the insider now owns 322,958 shares of the company’s stock, valued at approximately $72,187,572.16. The disclosure for this sale can be found here. Insiders sold 61,312 shares of company stock valued at $13,847,852 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. McIlrath & Eck LLC increased its position in Costco Wholesale by 16.8% during the second quarter. McIlrath & Eck LLC now owns 1,585 shares of the retailer’s stock valued at $331,000 after acquiring an additional 228 shares during the last quarter. Clarius Group LLC increased its position in Costco Wholesale by 11.5% during the second quarter. Clarius Group LLC now owns 5,159 shares of the retailer’s stock valued at $1,078,000 after acquiring an additional 532 shares during the last quarter. Private Advisory Group LLC increased its position in Costco Wholesale by 2.3% during the second quarter. Private Advisory Group LLC now owns 13,191 shares of the retailer’s stock valued at $2,757,000 after acquiring an additional 292 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Costco Wholesale by 4.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 19,035 shares of the retailer’s stock valued at $3,979,000 after acquiring an additional 735 shares during the last quarter. Finally, Girard Partners LTD. increased its position in Costco Wholesale by 174.3% during the second quarter. Girard Partners LTD. now owns 12,812 shares of the retailer’s stock valued at $2,677,000 after acquiring an additional 8,142 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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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The Fly

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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