Costco Wholesale Co. (COST) Upgraded by Barclays PLC to Overweight
Barclays PLC upgraded shares of Costco Wholesale Co. (NASDAQ:COST) from an equal weight rating to an overweight rating in a research report released on Thursday. The firm currently has $185.00 target price on the retailer’s stock, up from their prior target price of $170.00.
COST has been the subject of several other research reports. Goldman Sachs Group Inc reiterated a conviction-buy rating and issued a $187.00 price objective on shares of Costco Wholesale in a research note on Saturday, January 21st. Telsey Advisory Group lifted their price objective on shares of Costco Wholesale from $170.00 to $180.00 and gave the stock an outperform rating in a research note on Thursday, January 5th. Robert W. Baird reiterated an outperform rating and issued a $175.00 price objective on shares of Costco Wholesale in a research note on Sunday, January 1st. Guggenheim reiterated a neutral rating on shares of Costco Wholesale in a research note on Monday, January 30th. Finally, Cowen and Company set a $190.00 price objective on shares of Costco Wholesale and gave the stock a buy rating in a research note on Friday, March 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $179.28.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.3661% during midday trading on Thursday, reaching $170.7729. 1,708,980 shares of the company were exchanged. The stock has a 50-day moving average price of $168.11 and a 200 day moving average price of $160.94. Costco Wholesale has a 52-week low of $138.57 and a 52-week high of $178.71. The company has a market capitalization of $74.96 billion, a P/E ratio of 31.5021 and a beta of 0.89.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by $0.19. The company had revenue of $29.77 billion for the quarter, compared to analyst estimates of $29.75 billion. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts expect that Costco Wholesale will post $5.66 EPS for the current fiscal year.
In other news, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $166.95, for a total value of $667,800.00. Following the sale, the vice president now directly owns 44,049 shares of the company’s stock, valued at approximately $7,353,980.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James D. Sinegal sold 100,000 shares of the company’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $166.35, for a total transaction of $16,635,000.00. Following the completion of the sale, the director now directly owns 717,296 shares in the company, valued at $119,322,189.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,948 shares of company stock worth $20,932,141. Insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barometer Capital Management Inc. bought a new position in Costco Wholesale during the first quarter worth about $168,000. New Capital Management LP bought a new position in Costco Wholesale during the fourth quarter worth about $201,000. Verus Financial Partners Inc. bought a new position in Costco Wholesale during the first quarter worth about $215,000. Howland Capital Management LLC bought a new position in Costco Wholesale during the first quarter worth about $216,000. Finally, Aveo Capital Partners LLC bought a new position in Costco Wholesale during the fourth quarter worth about $207,000. Institutional investors own 73.12% of the company’s stock.
Costco Wholesale Company Profile
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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