Costco Wholesale (NASDAQ:COST) PT Raised to $350.00


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Costco Wholesale (NASDAQ:COST) had its price target upped by analysts at Deutsche Bank Aktiengesellschaft from $344.00 to $350.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the retailer’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential downside of 2.46% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research firms have also issued reports on COST. Royal Bank of Canada decreased their price target on shares of Costco Wholesale from $435.00 to $399.00 and set an “outperform” rating on the stock in a research report on Thursday, March 11th. Robert W. Baird decreased their price target on shares of Costco Wholesale from $410.00 to $395.00 and set an “outperform” rating on the stock in a research report on Thursday, March 11th. Wells Fargo & Company upgraded shares of Costco Wholesale from an “equal weight” rating to an “overweight” rating and set a $370.00 price target on the stock in a research report on Wednesday, March 17th. Jefferies Financial Group reduced their price objective on shares of Costco Wholesale from $435.00 to $405.00 and set a “buy” rating for the company in a report on Thursday, March 11th. Finally, Morgan Stanley raised their price objective on shares of Costco Wholesale from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, December 14th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $379.92.

NASDAQ:COST opened at $358.81 on Thursday. Costco Wholesale has a 1 year low of $293.84 and a 1 year high of $393.15. The firm’s fifty day simple moving average is $338.71 and its 200 day simple moving average is $360.45. The company has a current ratio of 0.98, a quick ratio of 0.53 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $158.79 billion, a PE ratio of 36.84, a PEG ratio of 4.17 and a beta of 0.66.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Wednesday, March 3rd. The retailer reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.31). The company had revenue of $44.77 billion during the quarter, compared to analyst estimates of $43.71 billion. Costco Wholesale had a return on equity of 24.50% and a net margin of 2.50%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, analysts anticipate that Costco Wholesale will post 9.95 EPS for the current fiscal year.

In other news, VP Paul G. Moulton sold 9,015 shares of Costco Wholesale stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $366.50, for a total transaction of $3,303,997.50. Following the completion of the sale, the vice president now owns 23,049 shares in the company, valued at approximately $8,447,458.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 1,199 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, January 13th. The stock was sold at an average price of $366.48, for a total transaction of $439,409.52. Following the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $7,366,248. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,208 shares of company stock valued at $5,433,062. 0.22% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Old Port Advisors acquired a new position in Costco Wholesale during the first quarter valued at approximately $218,000. Hoffman Alan N Investment Management grew its holdings in Costco Wholesale by 0.8% during the first quarter. Hoffman Alan N Investment Management now owns 10,764 shares of the retailer’s stock valued at $3,794,000 after purchasing an additional 85 shares during the period. Bremer Bank National Association grew its holdings in Costco Wholesale by 10.4% during the first quarter. Bremer Bank National Association now owns 7,992 shares of the retailer’s stock valued at $2,817,000 after purchasing an additional 751 shares during the period. Orrstown Financial Services Inc. grew its holdings in Costco Wholesale by 17.7% during the first quarter. Orrstown Financial Services Inc. now owns 1,855 shares of the retailer’s stock valued at $658,000 after purchasing an additional 279 shares during the period. Finally, Liberty One Investment Management LLC grew its holdings in Costco Wholesale by 3.1% during the first quarter. Liberty One Investment Management LLC now owns 4,377 shares of the retailer’s stock valued at $1,543,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 67.21% of the company’s stock.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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