Costco Wholesale (NASDAQ:COST) Downgraded by StockNews.com

Costco Wholesale (NASDAQ:COSTGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages also recently commented on COST. Deutsche Bank Aktiengesellschaft decreased their target price on Costco Wholesale from $530.00 to $525.00 in a report on Wednesday, May 25th. Tigress Financial increased their price objective on Costco Wholesale from $520.00 to $678.00 in a report on Thursday, April 14th. Citigroup decreased their price objective on Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a report on Friday, May 27th. The Goldman Sachs Group increased their price objective on Costco Wholesale from $561.00 to $627.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a report on Monday, May 30th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Buy” and a consensus target price of $570.54.

Shares of Costco Wholesale stock traded down $3.78 during midday trading on Monday, reaching $472.47. 2,295,305 shares of the company’s stock traded hands, compared to its average volume of 2,827,271. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The company has a market cap of $209.41 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 4.02 and a beta of 0.71. The stock has a 50 day moving average of $528.14 and a 200-day moving average of $529.62. Costco Wholesale has a 12 month low of $377.12 and a 12 month high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its earnings results on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. The company had revenue of $52.60 billion during the quarter, compared to the consensus estimate of $51.49 billion. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. On average, equities analysts anticipate that Costco Wholesale will post 12.9 earnings per share for the current fiscal year.

In other Costco Wholesale news, Director Kenneth D. Denman sold 250 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $554.67, for a total value of $138,667.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 4,498 shares of the stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $603.00, for a total value of $2,712,294.00. Following the completion of the transaction, the insider now directly owns 13,108 shares in the company, valued at approximately $7,904,124. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock worth $5,417,137 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ford Financial Group LLC raised its holdings in Costco Wholesale by 2.4% in the 1st quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock worth $472,000 after purchasing an additional 19 shares during the period. Fermata Advisors LLC raised its holdings in Costco Wholesale by 5.1% in the 1st quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock worth $227,000 after purchasing an additional 19 shares during the period. Strategic Investment Advisors MI raised its holdings in Costco Wholesale by 1.9% in the 1st quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock worth $591,000 after purchasing an additional 19 shares during the period. Tempus Wealth Planning LLC raised its holdings in Costco Wholesale by 1.0% in the 4th quarter. Tempus Wealth Planning LLC now owns 1,962 shares of the retailer’s stock worth $1,114,000 after purchasing an additional 20 shares during the period. Finally, Palisades Hudson Asset Management L.P. raised its holdings in Costco Wholesale by 1.4% in the 4th quarter. Palisades Hudson Asset Management L.P. now owns 1,468 shares of the retailer’s stock worth $833,000 after purchasing an additional 20 shares during the period. 67.52% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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