Shares of Costco Wholesale Co. (NASDAQ:COST) have been assigned an average recommendation of “Buy” from the twenty-seven research firms that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $262.73.
COST has been the topic of several analyst reports. Wells Fargo & Co lifted their target price on shares of Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. They noted that the move was a valuation call. Loop Capital lifted their target price on shares of Costco Wholesale to $300.00 and gave the company a “buy” rating in a report on Thursday, July 11th. They noted that the move was a valuation call. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird lifted their target price on shares of Costco Wholesale from $270.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, July 11th.
Shares of NASDAQ:COST opened at $272.50 on Tuesday. The stock has a market capitalization of $120.75 billion, a P/E ratio of 39.90, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95. The company has a 50-day moving average price of $272.18. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale has a fifty-two week low of $189.51 and a fifty-two week high of $284.31.
Costco Wholesale announced that its Board of Directors has approved a stock buyback plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the retailer to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Susan L. Decker sold 2,790 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the sale, the director now owns 45,405 shares in the company, valued at $11,561,021.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the sale, the director now owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock valued at $7,380,374 in the last quarter. Company insiders own 0.21% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Horan Capital Advisors LLC. acquired a new position in Costco Wholesale during the first quarter worth about $26,000. Arbor Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $33,000. Thor Advisors LLC acquired a new position in Costco Wholesale during the first quarter worth about $35,000. C J Advisory Inc acquired a new position in Costco Wholesale during the first quarter worth about $36,000. Finally, JNBA Financial Advisors raised its position in Costco Wholesale by 484.6% during the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 71.27% 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.
Featured Story: Cost of Goods Sold (COGS)
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