Credit Suisse Group Reaffirms Outperform Rating for Costco Wholesale Corporation (COST)

Credit Suisse Group reiterated their outperform rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a report released on Tuesday.

COST has been the subject of several other reports. Vetr raised shares of Costco Wholesale Corporation from a buy rating to a strong-buy rating and set a $182.22 target price for the company in a research note on Monday, August 21st. Deutsche Bank AG reissued a hold rating and issued a $172.00 target price on shares of Costco Wholesale Corporation in a research note on Tuesday, September 5th. Citigroup Inc. reissued a buy rating and issued a $190.00 target price (up from $187.00) on shares of Costco Wholesale Corporation in a research note on Monday. Robert W. Baird set a $200.00 target price on shares of Costco Wholesale Corporation and gave the company a buy rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reissued an outperform rating and issued a $190.00 target price (up from $184.00) on shares of Costco Wholesale Corporation in a research note on Friday, October 6th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $178.50.

Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.33%. The business had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period last year, the business earned $1.77 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis.

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In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total value of $159,250.00. Following the transaction, the director now owns 4,974 shares in the company, valued at $792,109.50. 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. 0.74% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COST. Crow Point Partners LLC bought a new position in Costco Wholesale Corporation in the third quarter valued at about $354,000. Bridges Investment Management Inc. grew its position in Costco Wholesale Corporation by 24.9% in the third quarter. Bridges Investment Management Inc. now owns 5,271 shares of the retailer’s stock valued at $866,000 after acquiring an additional 1,050 shares during the last quarter. Intl Fcstone Inc. bought a new position in Costco Wholesale Corporation in the second quarter valued at about $208,000. Gs Investments Inc. bought a new position in Costco Wholesale Corporation in the second quarter valued at about $1,330,000. Finally, Achmea Investment Management B.V. bought a new position in Costco Wholesale Corporation in the second quarter valued at about $757,000. Institutional investors own 72.34% of the company’s stock.

About Costco Wholesale Corporation

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.

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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