Analysts Set Costco Wholesale Co. (NASDAQ:COST) Target Price at $253.27
Costco Wholesale Co. (NASDAQ:COST) has been assigned an average recommendation of “Buy” from the twenty-seven research firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $259.39.
A number of analysts recently issued reports on COST shares. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. BidaskClub lowered shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Oppenheimer raised their target price on shares of Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th.
In other news, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total value of $2,658,500.00. Following the transaction, the vice president now owns 45,100 shares of the company’s stock, valued at approximately $11,989,835. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James C. Klauer sold 5,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the completion of the transaction, the insider now directly owns 48,310 shares in the company, valued at approximately $12,344,654.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by company insiders.
NASDAQ COST traded up $2.90 during mid-day trading on Friday, reaching $279.44. 2,041,915 shares of the stock were exchanged, compared to its average volume of 1,914,282. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $280.00. The firm’s fifty day simple moving average is $258.27. The firm has a market capitalization of $119.37 billion, a PE ratio of 40.91, a PEG ratio of 3.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $34.72 billion. During the same quarter last year, the business earned $1.70 earnings per share. Costco Wholesale’s revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that Costco Wholesale will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its Board of Directors has authorized a share buyback plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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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