Costco Wholesale Corporation (NASDAQ:COST) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, The Fly reports.

COST has been the subject of several other research reports. Deutsche Bank AG set a $172.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research report on Monday, July 31st. UBS AG raised shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. BMO Capital Markets downgraded shares of Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $185.00 to $160.00 in a research report on Monday, July 10th. Robert W. Baird reissued a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale Corporation in a research report on Thursday, August 31st. Finally, Zacks Investment Research raised shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, September 19th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $177.93.

Costco Wholesale Corporation (NASDAQ:COST) opened at 167.07 on Friday. The stock has a market capitalization of $73.28 billion, a PE ratio of 29.01 and a beta of 0.94. The stock’s 50 day moving average is $160.00 and its 200 day moving average is $164.90. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. Costco Wholesale Corporation also saw unusually large options trading activity on Thursday. Stock investors purchased 21,435 call options on the stock. This is an increase of approximately 266% compared to the average daily volume of 5,855 call options.

Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company had revenue of $42.30 billion during the quarter, compared to the consensus estimate of $41.55 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Costco Wholesale Corporation will post $5.78 EPS for the current year.

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In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the completion of the sale, the director now owns 6,974 shares in the company, valued at approximately $1,099,032.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $481,760 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. raised its stake in Costco Wholesale Corporation by 0.3% in the 2nd quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock worth $168,000 after purchasing an additional 3 shares in the last quarter. Brightworth raised its stake in Costco Wholesale Corporation by 0.3% in the 2nd quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after purchasing an additional 4 shares in the last quarter. Pioneer Trust Bank N A OR raised its stake in Costco Wholesale Corporation by 0.4% in the 2nd quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after purchasing an additional 7 shares in the last quarter. SVA Plumb Wealth Management LLC raised its stake in Costco Wholesale Corporation by 0.3% in the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after purchasing an additional 7 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Costco Wholesale Corporation by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock worth $223,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.

About Costco Wholesale Corporation

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.

The Fly

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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