Costco Wholesale (COST) Upgraded by Wells Fargo to “Outperform”

Costco Wholesale (NASDAQ:COST) was upgraded by investment analysts at Wells Fargo from a “market perform” rating to an “outperform” rating in a report released on Monday, The Fly reports.

COST has been the topic of a number of other research reports. BidaskClub upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 28th. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, January 5th. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $200.28 target price for the company in a research report on Monday, February 5th. Oppenheimer upped their target price on Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. Finally, BMO Capital Markets set a $223.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $191.39.

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NASDAQ:COST opened at $188.91 on Monday. Costco Wholesale has a 52 week low of $150.00 and a 52 week high of $199.88. The company has a market capitalization of $82,897.54, a P/E ratio of 32.46, a PEG ratio of 2.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). Costco Wholesale had a return on equity of 24.74% and a net margin of 2.18%. The firm had revenue of $33 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the company posted $1.17 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. sell-side analysts anticipate that Costco Wholesale will post 6.76 EPS for the current year.

In other news, Director James D. Sinegal sold 30,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $192.06, for a total value of $5,761,800.00. Following the completion of the sale, the director now directly owns 746,209 shares of the company’s stock, valued at $143,316,900.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $193.41, for a total value of $580,230.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,673,770.14. The disclosure for this sale can be found here. Insiders sold 86,659 shares of company stock valued at $16,359,594 over the last three months. 0.58% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. AXA lifted its position in Costco Wholesale by 0.7% in the fourth quarter. AXA now owns 709,666 shares of the retailer’s stock worth $132,083,000 after purchasing an additional 4,884 shares during the period. Douglass Winthrop Advisors LLC lifted its position in Costco Wholesale by 0.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 227,773 shares of the retailer’s stock worth $42,393,000 after purchasing an additional 1,634 shares during the period. Fieldpoint Private Securities LLC lifted its position in Costco Wholesale by 55.4% in the fourth quarter. Fieldpoint Private Securities LLC now owns 3,185 shares of the retailer’s stock worth $593,000 after purchasing an additional 1,135 shares during the period. State of Wisconsin Investment Board lifted its position in Costco Wholesale by 3.2% in the third quarter. State of Wisconsin Investment Board now owns 511,728 shares of the retailer’s stock worth $84,072,000 after purchasing an additional 16,066 shares during the period. Finally, LPL Financial LLC lifted its position in Costco Wholesale by 20.4% in the fourth quarter. LPL Financial LLC now owns 203,844 shares of the retailer’s stock worth $37,939,000 after purchasing an additional 34,517 shares during the period. 72.95% of the stock is owned by hedge funds and other institutional investors.

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About Costco Wholesale

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.

The Fly

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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