233.92 0.00 (0.00%)
After hours: 5:08PM EDT
|Bid||232.50 x 1000|
|Ask||234.32 x 800|
|Day's Range||232.32 - 235.00|
|52 Week Range||154.11 - 245.16|
|PE Ratio (TTM)||34.25|
|Earnings Date||Oct 4, 2018|
|Forward Dividend & Yield||2.28 (0.97%)|
|1y Target Est||241.48|
Since mid-April, Costco Wholesale Corporation (NASDAQ:COST) stock has had quite a run. COST stock was somewhat choppy in 2017, but 2018 has been a different story. Costco stock has gained 25% so far this year, and nearly all of the gains have come over the last five months.
Payment processing companies Visa (V) and Mastercard (MA) and a number of US banks have finally settled a lawsuit brought by millions of retailers over excess fees charged for accepting card payments. The arrangement has cost defendants $6.2 billion. Of the $900 million, Visa and Mastercard will pay $600 million and $108 million, respectively, while the remaining amount will be paid by other defendants including major US banks (XLF) such as Citigroup (C), JPMorgan Chase (JPM), and Bank of America (BAC).
Analysts’ ratings for Kroger (KR) were unchanged after its Q2 results release, and it has stayed at 2.4 on a scale of 1 (“strong buy”) to 5 (“sell”). However, Credit Suisse cut the company’s price target from $33 to $32. Walmart’s (WMT), Costco’s (COST), and Target’s (TGT) ratings are 2.4, 2.0, and 2.7, respectively.
Costco (COST) has impressed with its financial performance so far this year. Costco’s high membership renewal rates and continued investment in pricing to widen the value gap between itself and its competitors have made it immune to the growing threat from e-commerce companies. Recently, analyst Karen Short of Barclays downgraded Costco stock to an “equal weight” from an “overweight,” citing the company’s high valuation.
Costco’s steady results and strong prospects have sent the stock soaring, but concern about the shares’ valuation pushed the price lower on Monday.
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. Costco Wholesale’s insiders have divested from 22.99k shares in the large-cap stock within the past three months. It is widelyRead More...
Analyst Karen Short downgraded Costco from Overweight to Equal Weight with an unchanged $240 price target. The management teams at both Costco and Sprouts remain "laser-focused on exceptional execution" and their status as best-in-class food and staples retailers remains unchanged, Short said in the downgrade note.
In the evolving retail ecosystem, Costco (COST) has been able to create a niche for itself on the back of growth strategies.
Costco COST just got cut. Costco shares fell on Friday after Wells Fargo downgraded the stock to "market perform," citing the stock's lofty gain in the past year. "While COST remains one of the highest quality companies within consumer and near-term results should be positive, we can't help but think this may be as good as it gets," the firm's analysts led by Edward J. Kelly wrote in a note to clients, knocking the stock down by 2 percent.
Wells Fargo downgraded Costco (COST) stock to “market perform” from “outperform” due to the company’s high valuation multiple. Wells Fargo analyst Edward Kelly stated that Costco shares have soared to record highs and seem fully priced. In Will Valuations Stall Uptrend in COST, WMT, and TGT?, we underscored the fact that Costco, Target (TGT), and Walmart (WMT) look pricey given the recent run in their stock prices. Following the downgrade, Costco shares were trading 1.9% lower on September 14.
Costco's performance was driven by top-line growth that surpassed historical levels, as well as an increase in comps from 5.1 percent during 2011-2016 to 5.7 percent in 2017 and then to a current 7.2 percent, Kelly said in the Friday downgrade note.
Adobe reported adjusted quarterly profit of $1.73 per share, beating estimates by 4 cents a share. The software maker's revenue topped forecasts, as well, however Adobe's revenue guidance was merely in line with analysts' estimates after topping expectations for nine straight quarters. Amazon.com AMZN – Amazon CEO Jeff Bezos said a decision on where the company will build a second headquarters will be made before the end of the year.
Wells Fargo Securities lowers its rating to market perform from outperform for Costco shares, citing the retailer's high valuation.
Wells Fargo Securities lowers its rating to market perform from outperform for Costco shares, citing the retailer's high valuation. The retailer’s share price move over the past year “has left it priced for perfection and diminished the risk/reward, in our view," the firm's analyst Edward Kelly says. Costco COST shares may have peaked after the stock's strong performance this year, according to Wells Fargo Securities.