Costco Wholesale Corporation (COST) PT Set at $200.00 by Robert W. Baird
Robert W. Baird set a $200.00 price objective on Costco Wholesale Corporation (NASDAQ:COST) in a report released on Wednesday, October 4th. The firm currently has a buy rating on the retailer’s stock.
COST has been the topic of a number of other reports. Deutsche Bank AG set a $172.00 price target on shares of Costco Wholesale Corporation and gave the stock a hold rating in a report on Monday, July 31st. UBS AG raised shares of Costco Wholesale Corporation from a market perform rating to an outperform rating in a report on Monday, June 26th. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an outperform rating to a market perform rating and lowered their price target for the stock from $185.00 to $160.00 in a report on Monday, July 10th. Zacks Investment Research raised shares of Costco Wholesale Corporation from a hold rating to a buy rating and set a $180.00 price target on the stock in a report on Tuesday, September 19th. Finally, Northcoast Research raised shares of Costco Wholesale Corporation from a neutral rating to a buy rating and set a $190.00 target price on the stock in a research note on Tuesday, June 20th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Costco Wholesale Corporation presently has a consensus rating of Buy and an average price target of $178.50.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded up 1.67% during mid-day trading on Wednesday, reaching $159.85. 3,634,493 shares of the company’s stock traded hands. The company has a market cap of $69.89 billion, a P/E ratio of 26.29 and a beta of 0.94. The firm has a 50-day moving average of $160.04 and a 200 day moving average of $164.49. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last announced 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. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Corporation will post $6.42 EPS for the current year.
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In other news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the transaction, the director now owns 6,974 shares in the company, valued at $1,099,032.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,000 shares of company stock worth $481,760 in the last 90 days. Company insiders own 0.74% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. lifted its stake in Costco Wholesale Corporation by 0.3% in the second quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock worth $168,000 after acquiring an additional 3 shares during the period. Brightworth lifted its stake in Costco Wholesale Corporation by 0.3% in the second quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after acquiring an additional 4 shares during the period. Pioneer Trust Bank N A OR lifted its stake in Costco Wholesale Corporation by 0.4% in the second quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after acquiring an additional 7 shares during the period. SVA Plumb Wealth Management LLC lifted its stake in Costco Wholesale Corporation by 0.3% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after acquiring an additional 7 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Costco Wholesale Corporation by 0.5% in the second quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock worth $223,000 after acquiring an additional 7 shares during the period. 72.34% of the stock is owned by institutional investors.
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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