Costco Wholesale (NASDAQ:COST) had its target price raised by Oppenheimer from $270.00 to $295.00 in a report issued on Wednesday morning, The Fly reports. Oppenheimer also issued estimates for Costco Wholesale’s FY2020 earnings at $8.30 EPS and FY2021 earnings at $8.85 EPS.
A number of other brokerages also recently weighed in on COST. Tigress Financial reissued a buy rating on shares of Costco Wholesale in a report on Friday, June 28th. Citigroup set a $27.00 price target on shares of StoneCo and gave the company a hold rating in a report on Friday, May 31st. UBS Group reissued a hold rating on shares of Bayerische Motoren Werke in a report on Friday, March 22nd. Loop Capital increased their price target on shares of Costco Wholesale to $290.00 and gave the company a buy rating in a report on Monday, June 17th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $259.39.
Shares of Costco Wholesale stock opened at $279.44 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale has a fifty-two week low of $189.51 and a fifty-two week high of $280.00. The firm has a fifty day moving average of $258.90. The company has a market cap of $122.89 billion, a P/E ratio of 40.91, a PEG ratio of 3.92 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same period in the prior year, the firm earned $1.70 EPS. The business’s revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Costco Wholesale will post 8.04 earnings per share for the current year.
Costco Wholesale declared that its Board of Directors has initiated a share repurchase plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.39, for a total transaction of $799,170.00. Following the completion of the sale, the chief financial officer now owns 27,582 shares in the company, valued at approximately $7,347,568.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 2,790 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $254.62, for a total transaction of $710,389.80. Following the sale, the director now owns 45,405 shares of the company’s stock, valued at approximately $11,561,021.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,136 shares of company stock valued at $7,380,374. Corporate insiders own 0.21% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BKD Wealth Advisors LLC increased its position in Costco Wholesale by 2.6% in the 2nd quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock valued at $405,000 after acquiring an additional 39 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of Costco Wholesale by 1.5% in the 1st quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock valued at $671,000 after purchasing an additional 41 shares during the last quarter. Nachman Norwood & Parrott Inc boosted its stake in shares of Costco Wholesale by 4.1% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock valued at $269,000 after purchasing an additional 44 shares during the last quarter. Nichols & Pratt Advisers LLP MA boosted its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock valued at $1,215,000 after purchasing an additional 44 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Costco Wholesale by 0.4% in the 2nd quarter. Private Trust Co. NA now owns 11,990 shares of the retailer’s stock valued at $3,168,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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