Costco Wholesale Coverage Initiated by Analysts at Morgan Stanley (COST)
Equities researchers at Morgan Stanley assumed coverage on shares of Costco Wholesale (NASDAQ:COST) in a research report issued on Tuesday. The firm set an “overweight” rating and a $134.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 16.30% from the stock’s previous close.
COST has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Costco Wholesale in a research note on Wednesday, June 4th. They now have a $121.00 price target on the stock. Analysts at Ameriprise Financial initiated coverage on shares of Costco Wholesale in a research note on Tuesday, April 1st. They set a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Costco Wholesale presently has an average rating of “Buy” and a consensus target price of $126.67.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.82% during mid-day trading on Tuesday, hitting $116.16. 500,795 shares of the company’s stock traded hands. Costco Wholesale has a 52-week low of $107.44 and a 52-week high of $126.12. The stock’s 50-day moving average is $115.4 and its 200-day moving average is $115.0. The company has a market cap of $50.912 billion and a P/E ratio of 25.79.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 29th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.02. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.70 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that Costco Wholesale will post $4.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 1.23%.
In other Costco Wholesale news, Director Benjamin Sr Carson, Sr. sold 10,915 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $115.69, for a total value of $1,262,756.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.
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