Starbucks call volume above normal and directionally bullish » 14:0508/1008/10/20
Bullish option flow…
Bullish option flow detected in Starbucks with 25,895 calls trading, 1.0x expected, and implied vol increasing over 2 points to 29.20%. Aug-20 80 calls and 8/14 weekly 77 calls are the most active options, with total volume in those strikes near 6,300 contracts. The Put/Call Ratio is 0.37. Earnings are expected on October 29th.
Costco price target raised to $380 from $355 at Oppenheimer » 09:1208/0608/06/20
Oppenheimer analyst Rupesh Parikh raised the firm's price target on Costco to $380 from $355 and keeps an Outperform rating on the shares. The analyst looks "very favorably" upon the July sales results reported by Costco. Top-line momentum continued into July with the company registering a comp increase of 15.7% in the U.S., which represents an acceleration in two-year comp trends to 21.0% from 18.9% in June with increasing strength in foods and hardlines, he contends.
Costco price target raised to $360 from $330 at Stifel » 08:4808/0608/06/20
Stifel analyst Mark…
Stifel analyst Mark Astrachan raised the firm's price target on Costco to $360 from $330 and keeps a Buy rating on the shares after the company reported total and U.S. core July comp growth of 15.8% and 15.7%, respectively. In addition to strong U.S. traffic comps came an 11.4% increase in average ticket, which he sees as a sign that higher total purchases are being sustained while visits increase, the analyst tells investors. He sees the July comp beat as suggestive of continued outperformance and share gains, Astrachan added.
Costco price target raised to $390 from $360 at Loop Capital » 07:3108/0608/06/20
Loop Capital analyst…
Loop Capital analyst Laura Champine raised the firm's price target on Costco to $390 from $360 and keeps a Buy rating on the shares. The company's July comps were better than expected as traffic rose for the 2nd consecutive month, the analyst tells investors in her research note. Champine adds that Costco's growth and stability in membership fee increase "deserve modestly higher multiples" than the current valuation of 33-times expected forward earnings.
Costco assumed with an Outperform at Credit Suisse » 04:5808/0608/06/20
Credit Suisse analyst…
Credit Suisse analyst Kaumil Gajrawala assumed coverage of Costco with an Outperform rating and $328 price target. The analyst made no changes to the firm's ratings or targets in the Food Retail space.
Costco price target raised to $375 from $335 at Baird » 19:1508/0508/05/20
Baird analyst Peter…
Baird analyst Peter Benedict raised the firm's price target on Costco to $375 from $335 and keeps an Outperform rating on the shares after the company reported July comps numbers. The analyst said that it was "another encouraging update" which reinforces the underlying health of the company's business. Benedict added that he is raising his estimates and price target based on quarter-to-date top-line strength.
Craft Brew Alliance reports Q2 EPS 2c, consensus 4c » 17:0808/0508/05/20
Reports Q2 revenue…
Reports Q2 revenue $52.76M, two estimates $55.55M. "Our second quarter performance reflects the continued impacts of the ongoing global pandemic, which forced the shut-down of on-premise bars and restaurants, including our brewpubs, for most of the quarter," the company said. "Against this backdrop, we grew total company packaged shipments 13% over the second quarter last year, driven by strong growth among our core brands in package. Notably, packaged shipments for Kona grew 12% in the quarter, led by robust demand for Big Wave, which grew packaged shipments 15% over the second quarter last year. Kona's second quarter growth also reflects the addition of new Spiked Island Seltzers, which launched in select test markets earlier this year, including California, where it already ranks in the top 5 brands for velocity."
Costco reports July total comparable sales up 13.2%, up 15.8% excluding fuel » 16:3708/0508/05/20
Costco Wholesale Corporation reported net sales of $13.04B for the retail month of July, the four weeks ended August 2, an increase of 14.1% from $11.43B last year. For the forty-eight weeks ended August 2, the company reported net sales of $149.66B, an increase of 8.8% from $137.56B during the similar period last year.
Costco to host sales conference call » 15:5508/0508/05/20
Conference call to…
Conference call to discuss July 2020 sales results will be held on August 5 at 4:15 pm.Webcast Link
Modine Manufacturing rises 17.7% » 12:0008/0508/05/20
Modine Manufacturing is…
Modine Manufacturing is up 17.7%, or $1.01 to $6.72.