Costco Wholesale (NASDAQ:COST) had its target price lifted by analysts at Loop Capital from $340.00 to $360.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the retailer’s stock. Loop Capital’s target price would suggest a potential upside of 13.81% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other research firms have also recently weighed in on COST. Royal Bank of Canada increased their price target on Costco Wholesale from $332.00 to $348.00 in a report on Friday, May 29th. Morgan Stanley increased their price target on Costco Wholesale from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Telsey Advisory Group reissued a “buy” rating and set a $330.00 price target on shares of Costco Wholesale in a report on Thursday, June 4th. Oppenheimer assumed coverage on Costco Wholesale in a report on Wednesday, June 3rd. They set a “buy” rating and a $335.00 price target on the stock. Finally, Nomura Securities reaffirmed a “hold” rating and issued a $310.00 target price on shares of Costco Wholesale in a report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $322.13.
Shares of COST opened at $316.32 on Thursday. The business’s fifty day simple moving average is $304.01 and its two-hundred day simple moving average is $303.21. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.59. Costco Wholesale has a 12 month low of $262.71 and a 12 month high of $325.26. The company has a market cap of $139.62 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 4.46 and a beta of 0.68.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.03). The firm had revenue of $36.45 billion for the quarter, compared to the consensus estimate of $36.66 billion. Costco Wholesale had a net margin of 2.31% and a return on equity of 22.60%. Costco Wholesale’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, research analysts forecast that Costco Wholesale will post 8.44 EPS for the current year.
In other news, VP Timothy L. Rose sold 6,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $308.05, for a total transaction of $1,848,300.00. Following the completion of the transaction, the vice president now owns 23,680 shares in the company, valued at $7,294,624. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan L. Decker sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $314.83, for a total value of $314,830.00. Following the transaction, the director now owns 32,582 shares of the company’s stock, valued at approximately $10,257,791.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,650 shares of company stock valued at $8,208,438. Company insiders own 0.22% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Your Advocates Ltd. LLP purchased a new position in Costco Wholesale in the first quarter worth about $28,000. Beutel Goodman & Co Ltd. purchased a new position in Costco Wholesale in the fourth quarter worth about $29,000. Fortis Advisors LLC grew its position in Costco Wholesale by 98.1% in the first quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new position in Costco Wholesale in the fourth quarter worth about $30,000. Finally, Key Financial Inc purchased a new position in Costco Wholesale in the first quarter worth about $32,000. Hedge funds and other institutional investors own 68.87% 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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