Costco Wholesale (NASDAQ:COST) had its price target boosted by Nomura from $235.00 to $256.00 in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have a neutral rating on the retailer’s stock.
A number of other analysts also recently weighed in on COST. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Wells Fargo & Co dropped their target price on Teva Pharmaceutical Industries from $18.00 to $17.00 and set a market perform rating for the company in a research report on Thursday, May 9th. Loop Capital boosted their target price on Costco Wholesale to $290.00 and gave the stock a buy rating in a research report on Monday, June 17th. They noted that the move was a valuation call. Tigress Financial restated a buy rating on shares of Costco Wholesale in a research report on Friday, June 28th. Finally, Citigroup set a $27.00 target price on StoneCo and gave the stock a hold rating in a research report on Friday, May 31st. 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 currently has a consensus rating of Buy and a consensus price target of $259.39.
NASDAQ:COST opened at $279.44 on Thursday. The stock has a 50 day moving average price of $258.90. The company has a market cap of $122.89 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $280.00. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. Costco Wholesale’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. On average, research analysts anticipate that Costco Wholesale will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its Board of Directors has approved a share buyback program on Friday, April 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total transaction of $441,539.50. Following the transaction, the director now directly owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James C. Klauer sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the transaction, the insider now directly owns 48,310 shares in the company, valued at $12,344,654.30. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock worth $7,380,374 over the last ninety days. Insiders own 0.21% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Costco Wholesale by 2.6% during the fourth quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock valued at $5,862,398,000 after buying an additional 736,711 shares during the period. FMR LLC increased its stake in shares of Costco Wholesale by 5.0% during the first quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after buying an additional 518,843 shares during the period. Northern Trust Corp increased its stake in shares of Costco Wholesale by 3.4% during the fourth quarter. Northern Trust Corp now owns 6,230,704 shares of the retailer’s stock valued at $1,269,257,000 after buying an additional 202,554 shares during the period. Geode Capital Management LLC increased its stake in shares of Costco Wholesale by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock valued at $1,227,757,000 after buying an additional 386,144 shares during the period. Finally, Norges Bank purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $868,633,000. 71.08% of the stock is currently owned by hedge funds and other institutional investors.
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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