Costco Wholesale (NASDAQ:COST) had its target price upped by Oppenheimer from $270.00 to $295.00 in a 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.
A number of other research firms have also issued reports on COST. UBS Group reissued a hold rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Nomura boosted their target price on shares of Visa from $151.00 to $175.00 in a research note on Thursday, April 11th. Robert W. Baird reduced their target price on shares of Waters from $211.00 to $209.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. Telsey Advisory Group reissued an outperform rating and set a $265.00 target price (up from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Finally, Morgan Stanley lowered shares of Meili from an equal weight rating to an underweight rating and reduced their target price for the company from $14.00 to $4.20 in a research note on Monday, June 3rd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Costco Wholesale presently has an average rating of Buy and a consensus price target of $259.39.
COST opened at $279.44 on Wednesday. The business has a 50-day moving average of $258.90. The company has a market cap of $122.89 billion, a P/E ratio of 40.91, a P/E/G ratio of 3.92 and a beta of 0.94. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $280.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the previous year, the firm earned $1.70 EPS. The company’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Costco Wholesale will post 8.04 earnings per share for the current year.
Costco Wholesale announced that its board has approved a stock repurchase plan on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Susan L. Decker sold 1,646 shares of the stock in a transaction that occurred 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 directly owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the sale, the vice president now directly owns 66,479 shares of the company’s stock, valued at $16,762,679.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,136 shares of company stock valued at $7,380,374. Company insiders own 0.21% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in COST. Regent Investment Management LLC raised its holdings in shares of Costco Wholesale by 43.5% during the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock valued at $360,000 after acquiring an additional 450 shares during the period. Raymond James & Associates raised its holdings in shares of Costco Wholesale by 8.5% during the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after acquiring an additional 36,675 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Costco Wholesale by 17.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after acquiring an additional 27,026 shares during the period. Bernicke Wealth Management Ltd. raised its holdings in shares of Costco Wholesale by 3.3% during the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after acquiring an additional 127 shares during the period. Finally, Horizon Investments LLC acquired a new stake in shares of Costco Wholesale during the first quarter valued at approximately $401,000. 71.08% of the stock is owned by institutional investors and hedge funds.
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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