Costco Wholesale Corporation (COST) Given a $170.00 Price Target by Wells Fargo & Company Analysts
Costco Wholesale Corporation (NASDAQ:COST) received a $170.00 price objective from equities research analysts at Wells Fargo & Company in a note issued to investors on Thursday. The firm currently has a “hold” rating on the retailer’s stock. Wells Fargo & Company’s target price indicates a potential upside of 1.77% from the company’s current price.
Several other equities analysts have also issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $195.00 target price on shares of Costco Wholesale Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) downgraded Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $176.00 in a report on Friday, June 16th. Deutsche Bank AG downgraded Costco Wholesale Corporation from a “buy” rating to a “hold” rating and upped their price target for the stock from $142.11 to $167.11 in a report on Monday, June 19th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Costco Wholesale Corporation in a report on Monday, June 19th. Finally, Cowen and Company restated an “outperform” rating and set a $190.00 price target on shares of Costco Wholesale Corporation in a report on Monday, June 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Costco Wholesale Corporation has a consensus rating of “Buy” and a consensus target price of $180.18.
Costco Wholesale Corporation (COST) traded up 1.13% during mid-day trading on Thursday, reaching $167.07. The company’s stock had a trading volume of 4,715,438 shares. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 29.01 and a beta of 0.94. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The firm’s 50 day moving average price is $160.00 and its 200 day moving average price is $164.90.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the prior year, the company posted $1.77 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Corporation will post $5.78 earnings per share for the current year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the sale, the director now directly owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock worth $481,760. Company insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Delta Asset Management LLC TN increased its stake in shares of Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after acquiring an additional 65 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale Corporation during the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale Corporation during the second quarter worth $107,000. Mercer Capital Advisers Inc. increased its position in Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its position in Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the last quarter. 72.35% of the stock is currently owned by institutional investors and hedge funds.
Costco Wholesale Corporation Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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