Costco Wholesale Corporation’s (COST) Outperform Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reissued their outperform rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research note issued to investors on Friday. The firm currently has a $190.00 price objective on the retailer’s stock, up from their prior price objective of $184.00.
A number of other equities analysts have also recently commented on the company. Jefferies Group LLC reaffirmed a hold rating and issued a $162.00 price target (down from $168.00) on shares of Costco Wholesale Corporation in a research note on Friday. UBS AG reaffirmed a buy rating and issued a $190.00 price target on shares of Costco Wholesale Corporation in a research note on Friday. Morgan Stanley cut Costco Wholesale Corporation from an overweight rating to an equal weight rating and decreased their price target for the stock from $190.00 to $165.00 in a research note on Friday. Oppenheimer Holdings, Inc. set a $185.00 price target on Costco Wholesale Corporation and gave the stock a buy rating in a research note on Friday. Finally, Citigroup Inc. lifted their price target on Costco Wholesale Corporation from $155.00 to $187.00 and gave the stock a hold rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $178.39.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 157.09 on Friday. The company has a market capitalization of $68.68 billion, a PE ratio of 25.84 and a beta of 0.94. The company has a 50-day moving average price of $159.96 and a 200 day moving average price of $164.83. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. The business had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.33% and a net margin of 2.08%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. Equities analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current year.
In other news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the transaction, the director now directly owns 4,974 shares of the company’s stock, valued at $792,109.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 3,000 shares of company stock worth $481,760. Corporate insiders own 0.74% of the company’s stock.
Large investors have recently made changes to their positions in the company. Delta Asset Management LLC TN increased its position in Costco Wholesale Corporation by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale Corporation during the second quarter valued at $101,000. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale Corporation during the second quarter valued at $107,000. Mercer Capital Advisers Inc. increased its position in Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its position in Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after acquiring an additional 100 shares during the last quarter. 72.34% of the stock is currently owned by hedge funds and other institutional investors.
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.
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