BidaskClub Upgrades Costco Wholesale (NASDAQ:COST) to Strong-Buy
Several other brokerages also recently commented on COST. Morgan Stanley downgraded shares of Meili from an equal weight rating to an underweight rating and dropped their target price for the stock from $14.00 to $4.20 in a report on Monday, June 3rd. Nomura lifted their target price on shares of Costco Wholesale from $235.00 to $256.00 and gave the stock a neutral rating in a report on Thursday, July 11th. Citigroup set a $27.00 target price on shares of StoneCo and gave the stock a hold rating in a report on Friday, May 31st. Evercore ISI began coverage on shares of Polarityte in a report on Wednesday, March 20th. They issued an outperform rating and a $26.00 target price on the stock. Finally, Telsey Advisory Group restated an outperform rating and set a $265.00 price objective (up previously from $250.00) on shares of Costco Wholesale in a report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $259.39.
COST stock opened at $280.65 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. Costco Wholesale has a 1 year low of $189.51 and a 1 year high of $281.37. The firm has a fifty day simple moving average of $261.51. The firm has a market cap of $123.43 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 3.92 and a beta of 0.94.
Costco Wholesale announced that its board has authorized a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Susan L. Decker sold 1,646 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Patrick J. Callans sold 2,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the completion of the sale, the vice president now directly owns 66,479 shares in the company, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. In the last three months, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of COST. Titus Wealth Management lifted its position in Costco Wholesale by 21.3% during the fourth quarter. Titus Wealth Management now owns 2,163 shares of the retailer’s stock valued at $440,000 after buying an additional 380 shares during the period. Garrison Point Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $1,092,000. Clarius Group LLC lifted its position in shares of Costco Wholesale by 2.9% during the 4th quarter. Clarius Group LLC now owns 5,178 shares of the retailer’s stock valued at $1,055,000 after buying an additional 146 shares in the last quarter. Tredje AP fonden lifted its position in shares of Costco Wholesale by 24.8% during the 4th quarter. Tredje AP fonden now owns 41,258 shares of the retailer’s stock valued at $8,405,000 after buying an additional 8,187 shares in the last quarter. Finally, Sage Capital Advisors llc lifted its position in shares of Costco Wholesale by 222.2% during the 4th quarter. Sage Capital Advisors llc now owns 2,913 shares of the retailer’s stock valued at $593,000 after buying an additional 2,009 shares in the last quarter. 71.10% of the stock is currently owned by institutional investors and hedge funds.
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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