Costco Wholesale (COST) PT Set at $175.00 by Morgan Stanley

Costco Wholesale (NASDAQ:COST) received a $175.00 target price from Morgan Stanley in a report released on Friday. The firm presently has a “hold” rating on the retailer’s stock. Morgan Stanley’s target price suggests a potential downside of 9.36% from the company’s previous close.

A number of other research firms also recently issued reports on COST. Moffett Nathanson initiated coverage on Costco Wholesale in a report on Monday, December 4th. They set a “buy” rating for the company. < Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective for the company in a report on Monday, August 21st. Robert W. Baird reiterated a “buy” rating and set a $215.00 price objective on shares of Costco Wholesale in a report on Friday. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective (up from $185.00) on shares of Costco Wholesale in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $183.46.

Shares of Costco Wholesale (COST) traded up $6.54 during trading on Friday, hitting $193.07. The company’s stock had a trading volume of 4,482,095 shares, compared to its average volume of 3,097,922. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $84,600.00, a P/E ratio of 32.35, a P/E/G ratio of 3.05 and a beta of 0.98. Costco Wholesale has a 12 month low of $150.00 and a 12 month high of $191.22.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. Costco Wholesale’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. equities research analysts expect that Costco Wholesale will post 6.48 EPS for the current fiscal year.

In other news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at $6,647,369.68. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock valued at $5,520,848 over the last three months. Insiders own 0.74% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in Costco Wholesale during the 2nd quarter worth approximately $101,000. Wealthcare Advisory Partners LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth approximately $102,000. Jacobus Wealth Management Inc. acquired a new stake in Costco Wholesale during the 3rd quarter worth approximately $103,000. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale during the 2nd quarter worth approximately $107,000. Finally, Shamrock Asset Management LLC lifted its holdings in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares during the last quarter. 71.49% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first posted by American Banking and Market News and is owned by of American Banking and Market News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/15/costco-wholesale-cost-pt-set-at-175-00-by-morgan-stanley.html.

Costco Wholesale 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.

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)