Costco Wholesale (NASDAQ:COST) had its target price boosted by Robert W. Baird from $270.00 to $290.00 in a report published on Thursday, BenzingaRatingsTable reports. They currently have an outperform rating on the retailer’s stock.
A number of other brokerages have also recently commented on COST. Gordon Haskett cut Costco Wholesale from an accumulate rating to a hold rating and set a $244.90 price objective on the stock. in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Morgan Stanley cut Meili from an equal weight rating to an underweight rating and reduced their price objective for the stock from $14.00 to $4.20 in a research note on Monday, June 3rd. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. BMO Capital Markets set a $275.00 price objective on Costco Wholesale and gave the stock a buy rating in a research note on Friday, May 31st. Finally, Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Tuesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale has a consensus rating of Buy and an average price target of $259.39.
COST stock opened at $279.44 on Thursday. The firm’s 50-day moving average price is $258.90. Costco Wholesale has a 12-month low of $189.51 and a 12-month high of $280.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The stock has a market capitalization of $122.89 billion, a P/E ratio of 40.91, a PEG ratio of 3.92 and a beta of 0.94.
Costco Wholesale declared that its board has approved a stock buyback program on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the transaction, the director now owns 41,803 shares in the company, valued at $11,213,654.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 2,790 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the transaction, the director now owns 45,405 shares in the company, valued at approximately $11,561,021.10. 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. Insiders own 0.21% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Northstar Group Inc. increased its holdings in Costco Wholesale by 1.0% in the second quarter. Northstar Group Inc. now owns 19,396 shares of the retailer’s stock valued at $5,125,000 after buying an additional 191 shares during the last quarter. Country Club Trust Company n.a. increased its holdings in Costco Wholesale by 1.4% in the second quarter. Country Club Trust Company n.a. now owns 6,766 shares of the retailer’s stock valued at $1,788,000 after buying an additional 92 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in Costco Wholesale by 9.6% in the second quarter. Clark Capital Management Group Inc. now owns 3,452 shares of the retailer’s stock valued at $912,000 after buying an additional 301 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Costco Wholesale by 13.2% in the second quarter. CENTRAL TRUST Co now owns 23,954 shares of the retailer’s stock valued at $6,624,000 after buying an additional 2,789 shares during the last quarter. Finally, HMS Capital Management LLC bought a new stake in Costco Wholesale in the second quarter valued at about $132,000. Institutional investors and hedge funds own 71.08% of the company’s stock.
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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