Costco Wholesale Corporation (NASDAQ:COST) announced the election to its Board of Directors of Maggie Wilderotter, the Executive Chairman of Frontier Communications. Previously, she was the President and Chief Executive Officer of Frontier for ten and one-half years. She formerly served in a number of executive roles at technology and telecommunications companies, including Microsoft,Wink Communications, AT&T, and McCaw Cellular. She is a member of the boards of directors of Xerox and Juno Therapeutics, among other organizations.
Jeff Brotman, Chairman of the Board, stated: “We are very pleased to welcome Maggie as a new member of our Board. She brings substantial experience as a seasoned executive in telecommunications and technology and as a board member of many prominent companies.”
Costco currently operates 687 warehouses, including 481 in the United States and Puerto Rico, 89 in Canada, 36 in Mexico, 27 in the United Kingdom, 23 in Japan, 12 in Korea, 11 in Taiwan, seven in Australia and one in Spain. The Company plans to open up to an additional 11 new warehouses before the end of the calendar year. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico. (Original Source)
Shares of Costco Wholesale closed today at $149.84, down $2.44 or -1.60%. COST has a 1-year high of $156.85 and a 1-year low of $117.03. The stock’s 50-day moving average is $143.52 and its 200-day moving average is $143.44.
On the ratings front, Costco Wholesale has been the subject of a number of recent research reports. In a report issued on October 5, J.P. Morgan analyst Christopher Horvers maintained a Buy rating on COST, with a price target of $162, which represents a potential upside of 8.1% from where the stock is currently trading. Separately, on October 2, Sterne Agee CRT’s Charles Grom maintained a Buy rating on the stock and has a price target of $154.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher Horvers and Charles Grom have a total average return of 8.9% and 0.8% respectively. Horvers has a success rate of 66.7% and is ranked #391 out of 3773 analysts, while Grom has a success rate of 53.7% and is ranked #1920.
The street is mostly Bullish on COST stock. Out of 7 analysts who cover the stock, 5 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $154.80, which represents a slight upside potential from current levels.
Costco Wholesale Corp and its subsidiaries operate membership warehouses. It offers its members low prices on a limited selection of nationally branded and select private-label products in merchandise categories.