Several other equities analysts also recently weighed in on the company. Goldman Sachs Group raised Altria Group from a neutral rating to a buy rating and set a $59.00 price target for the company in a research report on Thursday, July 11th. Morgan Stanley downgraded Meili from an equal weight rating to an underweight rating and dropped their price target for the stock from $14.00 to $4.20 in a research report on Monday, June 3rd. Telsey Advisory Group reissued an outperform rating and set a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Loop Capital raised their price target on Costco Wholesale to $300.00 and gave the stock a buy rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Finally, Gordon Haskett downgraded Costco Wholesale from an accumulate rating to a hold rating and set a $244.90 price target for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $259.39.
NASDAQ COST opened at $280.58 on Friday. Costco Wholesale has a 1-year low of $189.51 and a 1-year high of $280.70. The stock has a market cap of $123.40 billion, a P/E ratio of 41.08, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a 50 day moving average price of $260.84. 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 quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same period last year, the business posted $1.70 EPS. Costco Wholesale’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale will post 8.04 earnings per share for the current year.
Costco Wholesale announced that its board has initiated a stock repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, insider James C. Klauer sold 5,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the sale, the insider now owns 48,310 shares in the company, valued at $12,344,654.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total value of $2,658,500.00. Following the sale, the vice president now owns 45,100 shares in the company, valued at approximately $11,989,835. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock worth $7,380,374 in the last 90 days. Insiders own 0.21% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Horan Capital Advisors LLC. acquired a new position in Costco Wholesale in the first quarter valued at $26,000. Canton Hathaway LLC boosted its holdings in Costco Wholesale by 41.0% in the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after acquiring an additional 41 shares during the last quarter. ERTS Wealth Advisors LLC acquired a new position in Costco Wholesale in the fourth quarter valued at $30,000. Thor Advisors LLC acquired a new position in Costco Wholesale in the first quarter valued at $35,000. Finally, C J Advisory Inc acquired a new position in Costco Wholesale in the first quarter valued at $36,000. Institutional investors and hedge funds own 71.10% of the company’s stock.
About Costco Wholesale
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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