Costco Wholesale (NASDAQ:COST) had its price target upped by Oppenheimer from $270.00 to $295.00 in a research report report published on Wednesday, The Fly reports. Oppenheimer also issued estimates for Costco Wholesale’s FY2020 earnings at $8.30 EPS and FY2021 earnings at $8.85 EPS.
Several other research analysts have also recently weighed in on the stock. Gordon Haskett cut shares of Costco Wholesale from an accumulate rating to a hold rating and set a $244.90 price objective for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Robert W. Baird dropped their price objective on shares of Waters from $211.00 to $209.00 and set a neutral rating for the company in a research report on Wednesday, April 24th. UBS Group restated a hold rating on shares of Bayerische Motoren Werke in a research report on Friday, March 22nd. Nomura boosted their price objective on shares of Visa from $151.00 to $175.00 in a research report on Thursday, April 11th. Finally, Evercore ISI started coverage on shares of Polarityte in a research report on Wednesday, March 20th. They issued an outperform rating and a $26.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $259.39.
Shares of NASDAQ:COST traded up $5.12 during trading on Wednesday, reaching $276.54. The stock had a trading volume of 1,954,343 shares, compared to its average volume of 1,913,306. Costco Wholesale has a 52 week low of $189.51 and a 52 week high of $276.77. The firm has a 50-day simple moving average of $258.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The company has a market cap of $119.11 billion, a PE ratio of 40.49, a PEG ratio of 3.76 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. During the same quarter in the previous year, the company posted $1.70 EPS. Costco Wholesale’s revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale announced that its board has approved a share repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Costco Wholesale news, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the sale, the director now owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roland Michael Vachris sold 3,700 shares of Costco Wholesale stock in a transaction on Monday, June 24th. The stock was sold at an average price of $267.25, for a total transaction of $988,825.00. Following the sale, the vice president now directly owns 13,578 shares of the company’s stock, valued at approximately $3,628,720.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock valued at $7,380,374 in the last ninety days. Company insiders own 0.21% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. National Asset Management Inc. boosted its position in Costco Wholesale by 13.7% in the 4th quarter. National Asset Management Inc. now owns 4,908 shares of the retailer’s stock worth $1,000,000 after purchasing an additional 593 shares in the last quarter. Doyle Wealth Management raised its stake in shares of Costco Wholesale by 6.2% during the 4th quarter. Doyle Wealth Management now owns 1,009 shares of the retailer’s stock worth $206,000 after buying an additional 59 shares during the period. Trillium Asset Management LLC raised its stake in shares of Costco Wholesale by 7.3% during the 4th quarter. Trillium Asset Management LLC now owns 88,872 shares of the retailer’s stock worth $18,104,000 after buying an additional 6,011 shares during the period. Cpwm LLC raised its stake in shares of Costco Wholesale by 1.5% during the 4th quarter. Cpwm LLC now owns 12,579 shares of the retailer’s stock worth $2,562,000 after buying an additional 181 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Costco Wholesale by 2.6% during the 4th quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock worth $5,862,398,000 after buying an additional 736,711 shares during the period. 71.08% of the stock is owned by institutional investors.
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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