Costco Wholesale (NASDAQ:COST) had its price target upped by Stifel Nicolaus from $261.00 to $289.00 in a report released on Thursday, The Fly reports. The brokerage currently has a buy rating on the retailer’s stock.
Other analysts also recently issued research reports about the stock. Oppenheimer increased their target price on shares of Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday. Wells Fargo & Co decreased their target price on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a market perform rating for the company in a research report on Thursday, May 9th. Morgan Stanley downgraded shares of Meili from an equal weight rating to an underweight rating and decreased their target price for the company from $14.00 to $4.20 in a research report on Monday, June 3rd. Gordon Haskett downgraded shares of Costco Wholesale from an accumulate rating to a hold rating and set a $244.90 target price for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Loop Capital increased their target price on shares of Costco Wholesale to $290.00 and gave the company a buy rating in a research report on Monday, June 17th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Costco Wholesale currently has a consensus rating of Buy and an average price target of $259.39.
Costco Wholesale stock opened at $279.44 on Thursday. The firm has a 50 day moving average price of $258.90. 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. The firm has a market capitalization 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 (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, equities research analysts predict that Costco Wholesale will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its board has initiated a share repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other Costco Wholesale news, Director Susan L. Decker sold 1,646 shares of the 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 transaction, the director now directly owns 41,803 shares in the company, valued at approximately $11,213,654.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 2,790 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $254.62, for a total value of $710,389.80. Following the transaction, the director now owns 45,405 shares in the company, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock worth $7,380,374 over the last 90 days. Company insiders own 0.21% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BKD Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 2.6% in the 2nd quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock worth $405,000 after purchasing an additional 39 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in shares of Costco Wholesale by 1.5% in the 1st quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after purchasing an additional 41 shares in the last quarter. Nachman Norwood & Parrott Inc lifted its holdings in shares of Costco Wholesale by 4.1% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock worth $269,000 after purchasing an additional 44 shares in the last quarter. Nichols & Pratt Advisers LLP MA lifted its holdings in shares of Costco Wholesale by 0.9% in the 1st quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock worth $1,215,000 after purchasing an additional 44 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Costco Wholesale by 0.4% in the 2nd quarter. Private Trust Co. NA now owns 11,990 shares of the retailer’s stock worth $3,168,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 71.08% 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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