Costco Wholesale Corp. (COST) Price Target Raised to $178.00 at Royal Bank Of Canada
Costco Wholesale Corp. (NASDAQ:COST) had its price target hoisted by Royal Bank Of Canada from $177.00 to $178.00 in a research note published on Friday. Royal Bank Of Canada currently has an outperform rating on the retailer’s stock.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG reiterated a buy rating on shares of Costco Wholesale Corp. in a report on Sunday, July 10th. JPMorgan Chase & Co. reiterated a buy rating on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. Oppenheimer Holdings Inc. reiterated a buy rating and issued a $175.00 target price on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. Argus reiterated a buy rating and issued a $175.00 target price on shares of Costco Wholesale Corp. in a report on Tuesday, July 5th. Finally, Bank of America Corp. reiterated a buy rating on shares of Costco Wholesale Corp. in a report on Saturday, June 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $172.74.
Costco Wholesale Corp. (NASDAQ:COST) traded down 0.94% during midday trading on Friday, reaching $151.07. The company had a trading volume of 440,149 shares. The firm has a 50-day moving average of $158.09 and a 200 day moving average of $156.31. The company has a market capitalization of $66.10 billion, a P/E ratio of 28.34 and a beta of 0.71. Costco Wholesale Corp. has a 1-year low of $138.57 and a 1-year high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last issued its earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The business earned $35.73 billion during the quarter. During the same quarter in the prior year, the company posted $1.73 earnings per share. Costco Wholesale Corp.’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Costco Wholesale Corp. will post $5.95 EPS for the current year.
In other news, Director John W. Meisenbach sold 5,737 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the transaction, the director now owns 4,652 shares in the company, valued at $780,326.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard A. Galanti sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $167.08, for a total value of $400,992.00. Following the completion of the transaction, the chief financial officer now owns 30,536 shares in the company, valued at approximately $5,101,954.88. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in COST. UMB Bank N A MO increased its position in Costco Wholesale Corp. by 4.5% in the second quarter. UMB Bank N A MO now owns 167,058 shares of the retailer’s stock valued at $26,235,000 after buying an additional 7,234 shares during the period. Front Street Capital Management Inc. purchased a new position in Costco Wholesale Corp. during the second quarter valued at $9,935,000. First Republic Investment Management Inc. increased its position in Costco Wholesale Corp. by 7.5% in the first quarter. First Republic Investment Management Inc. now owns 271,526 shares of the retailer’s stock valued at $42,787,000 after buying an additional 18,866 shares during the period. Carret Asset Management LLC purchased a new position in Costco Wholesale Corp. during the second quarter valued at $225,000. Finally, Private Advisor Group LLC increased its position in Costco Wholesale Corp. by 10.3% in the second quarter. Private Advisor Group LLC now owns 25,220 shares of the retailer’s stock valued at $3,935,000 after buying an additional 2,355 shares during the period. Institutional investors and hedge funds own 73.02% of the company’s stock.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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