Guggenheim Reaffirms “Neutral” Rating for Costco Wholesale Corp. (COST)
Costco Wholesale Corp. (NASDAQ:COST)‘s stock had its “neutral” rating reiterated by equities research analysts at Guggenheim in a report released on Saturday.
Other research analysts have also recently issued research reports about the company. Robert W. Baird set a $175.00 target price on Costco Wholesale Corp. and gave the company a “buy” rating in a research note on Friday, September 23rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $178.00 target price (up previously from $177.00) on shares of Costco Wholesale Corp. in a research note on Friday, September 30th. Barclays PLC set a $158.00 target price on Costco Wholesale Corp. and gave the company a “hold” rating in a research note on Sunday, October 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Costco Wholesale Corp. in a research note on Wednesday, September 7th. Finally, BMO Capital Markets set a $180.00 target price on Costco Wholesale Corp. and gave the company a “buy” rating in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. Costco Wholesale Corp. currently has an average rating of “Buy” and an average price target of $172.74.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 149.99 on Friday. The firm has a 50-day moving average price of $155.49 and a 200 day moving average price of $156.18. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73. The stock has a market cap of $65.62 billion, a PE ratio of 28.14 and a beta of 0.71.
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Costco Wholesale Corp. (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The company earned $35.73 billion during the quarter. During the same period in the previous year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.
In other Costco Wholesale Corp. news, Director John W. Meisenbach sold 5,737 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now owns 4,652 shares of the company’s stock, valued at approximately $780,326.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard A. Galanti sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $167.08, for a total value of $400,992.00. Following the completion of the sale, the chief financial officer now directly owns 30,536 shares in the company, valued at approximately $5,101,954.88. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. FCM Investments TX acquired a new stake in Costco Wholesale Corp. during the second quarter worth about $133,000. Zions Bancorporation raised its stake in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock worth $139,000 after buying an additional 417 shares during the period. Global X Management Co. LLC raised its stake in Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares during the period. PineBridge Investments L.P. raised its stake in Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares during the period. Finally, Signaturefd LLC raised its stake in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares during the period. 73.02% of the stock is currently owned by hedge funds and other institutional investors.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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