Company Update (NASDAQ:COST): Costco Wholesale Corporation Reports August, Fourth Quarter and Fiscal Year 2016 Sales Results

Costco Wholesale Corporation (NASDAQ:COST) reported net sales of $8.9 billion for the month of August, the four weeks ended August 28, 2016, an increase of two percent from $8.7 billion during the similar period last year.

For the 16-week fourth quarter, the Company reported net sales of $35.7 billion, an increase of two percent from$35.0 billion in the fourth quarter last year, which ended August 30, 2015.

For the 52-week fiscal year ended August 28, 2016, the Company reported net sales of $116.1 billion, an increase of two percent from the $113.7 billion reported last year. (Original Source)

Shares of Costco Wholesale are down nearly 2% to $158.50 in pre-market trading. COST has a 1-year high of $169.73 and a 1-year low of $138.18. The stock’s 50-day moving average is $167.16 and its 200-day moving average is $155.03.

On the ratings front, COST has been the subject of a number of recent research reports. In a report issued on August 29, Piper Jaffray analyst Sean Naughton reiterated a Buy rating on COST, with a price target of $171, which represents a potential upside of 5.5% from where the stock is currently trading. Separately, on the same day, Deutsche Bank’s Paul Trussell maintained a Buy rating on the stock and has a price target of $195.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Sean Naughton and Paul Trussell have a total average return of 4.5% and 4.6% respectively. Naughton has a success rate of 53.6% and is ranked #738 out of 4129 analysts, while Trussell has a success rate of 64.8% and is ranked #445.

The street is mostly Bullish on COST stock. Out of 15 analysts who cover the stock, 13 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $175.70, which represents a potential upside of 8.4% from where the stock is currently trading.

Costco Wholesale Corp. operates membership warehouses based on the concept that offering members low prices on a limited selection of nationally branded and select private-label products in a wide range of merchandise categories. It operates warehouses in the U.S., Canada, the United Kingdom, Japan and Australia and through majority-owned subsidiaries in Taiwan and Korea. The company warehouses present exclusive product category selections to be found under a single roof, which include appliances, auto and tires, baby, kids and toys, clothing and handbags, computers and printers, electronics, food and gift baskets, funeral, furniture, gift cards, tickets & floral, hardware health & beauty, home & decor, jewelry & watches, office products, patio, outdoor & pets, sports & fitness, travel & luggage. It also provides ancillary and other services that include gas stations, pharmacy, food court, optical, one-hour photo, hearing aid and travel. 

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