Costco Wholesale (NASDAQ:COST) Stock Rating Lowered by Oppenheimer

Costco Wholesale (NASDAQ:COST) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $300.00 price target on the retailer’s stock, up from their previous price target of $295.00. Oppenheimer’s price target suggests a potential upside of 2.21% from the stock’s previous close. Oppenheimer also issued estimates for Costco Wholesale’s Q4 2019 earnings at $2.54 EPS, FY2019 earnings at $8.05 EPS, Q1 2020 earnings at $1.70 EPS, Q2 2020 earnings at $2.00 EPS, Q3 2020 earnings at $1.97 EPS, Q4 2020 earnings at $2.72 EPS, FY2020 earnings at $8.40 EPS and FY2021 earnings at $8.95 EPS.

Other equities research analysts also recently issued reports about the stock. Citigroup reduced their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Wells Fargo & Co lifted their price target on shares of Costco Wholesale from $240.00 to $290.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $289.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $271.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley lifted their price target on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $283.72.

NASDAQ:COST traded up $3.63 during mid-day trading on Wednesday, reaching $293.52. The stock had a trading volume of 73,748 shares, compared to its average volume of 2,208,972. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The firm has a market capitalization of $130.62 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 3.94 and a beta of 0.93. Costco Wholesale has a twelve month low of $189.51 and a twelve month high of $307.34. The business has a 50 day simple moving average of $281.96 and a 200 day simple moving average of $256.87.

In other Costco Wholesale news, VP James P. Murphy sold 10,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total value of $2,658,500.00. Following the completion of the sale, the vice president now directly owns 45,100 shares of the company’s stock, valued at approximately $11,989,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 18,346 shares of company stock valued at $4,888,035 over the last ninety days. 0.21% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Ironwood Wealth Management LLC. grew its stake in shares of Costco Wholesale by 23.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 395 shares of the retailer’s stock valued at $96,000 after buying an additional 75 shares during the period. Cooper Haims Advisors LLC acquired a new position in shares of Costco Wholesale during the 1st quarter valued at $1,994,000. MBM Wealth Consultants LLC lifted its holdings in shares of Costco Wholesale by 8.9% during the 1st quarter. MBM Wealth Consultants LLC now owns 1,512 shares of the retailer’s stock valued at $366,000 after acquiring an additional 123 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Costco Wholesale by 8.4% during the 1st quarter. Grove Bank & Trust now owns 3,234 shares of the retailer’s stock valued at $783,000 after acquiring an additional 250 shares in the last quarter. Finally, Private Capital Group LLC lifted its holdings in shares of Costco Wholesale by 31.9% during the 1st quarter. Private Capital Group LLC now owns 1,046 shares of the retailer’s stock valued at $253,000 after acquiring an additional 253 shares in the last quarter. 71.14% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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