Costco Wholesale (NASDAQ:COST) had its price objective increased by Loop Capital to $300.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has a buy rating on the retailer’s stock. The analysts noted that the move was a valuation call.
COST has been the subject of several other research reports. Morgan Stanley downgraded shares of Meili from an equal weight rating to an underweight rating and decreased their target price for the stock from $14.00 to $4.20 in a research note on Monday, June 3rd. UBS Group restated a hold rating on shares of Bayerische Motoren Werke in a research report on Friday, March 22nd. Evercore ISI started coverage on shares of Polarityte in a research report on Wednesday, March 20th. They issued an outperform rating and a $26.00 price objective for the company. Citigroup set a $27.00 price objective on shares of StoneCo and gave the company a hold rating in a research report on Friday, May 31st. Finally, Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $261.00 to $289.00 and gave the company a buy rating in a research report on Thursday. Seven investment 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 company. The stock has an average rating of Buy and an average price target of $259.39.
Shares of COST opened at $279.44 on Thursday. Costco Wholesale has a fifty-two week low of $189.51 and a fifty-two week high of $280.00. The firm has a market capitalization of $122.89 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The business’s 50-day simple moving average is $258.90. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the 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 business had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Costco Wholesale will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale announced that its board has initiated a share buyback plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director Susan L. Decker sold 1,646 shares of Costco Wholesale 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 in the company, valued at approximately $11,213,654.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 2,790 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $254.62, for a total transaction of $710,389.80. Following the sale, the director now owns 45,405 shares of the company’s stock, valued at $11,561,021.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,136 shares of company stock valued at $7,380,374. Insiders own 0.21% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BKD Wealth Advisors LLC increased its stake in shares of Costco Wholesale by 2.6% during 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 increased its stake in shares of Costco Wholesale by 1.5% during 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 increased its stake in shares of Costco Wholesale by 4.1% during 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 increased its stake in shares of Costco Wholesale by 0.9% during 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 increased its stake in shares of Costco Wholesale by 0.4% during 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. Institutional investors own 71.08% of the company’s stock.
Costco Wholesale Company Profile
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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