Costco Wholesale Corp.’s (COST) Neutral Rating Reiterated at Guggenheim
Costco Wholesale Corp. (NASDAQ:COST)‘s stock had its “neutral” rating reaffirmed by stock analysts at Guggenheim in a note issued to investors on Wednesday.
COST has been the topic of a number of other reports. Robert W. Baird set a $175.00 price objective on Costco Wholesale Corp. and gave the company a “buy” rating in a research note on Friday, September 23rd. RBC Capital Markets reiterated an “outperform” rating and set a $178.00 price objective (up from $177.00) on shares of Costco Wholesale Corp. in a research note on Friday, September 30th. Wells Fargo & Co. initiated coverage on Costco Wholesale Corp. in a research note on Tuesday, October 18th. They set a “market perform” rating and a $155.00 price objective on the stock. They noted that the move was a valuation call. Barclays PLC set a $158.00 target price on Costco Wholesale Corp. and gave the stock a “hold” rating in a research report on Sunday, October 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $170.00 target price on shares of Costco Wholesale Corp. in a research report on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Costco Wholesale Corp. currently has a consensus rating of “Buy” and an average price target of $172.11.
Costco Wholesale Corp. (NASDAQ:COST) opened at 151.48 on Wednesday. The firm has a market capitalization of $66.22 billion, a price-to-earnings ratio of 28.42 and a beta of 0.85. The stock’s 50 day moving average price is $149.38 and its 200 day moving average price is $155.57. Costco Wholesale Corp. has a 52-week low of $138.57 and a 52-week high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The company had revenue of $35.73 billion for the quarter. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corp. will post $5.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 4th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 2nd. This represents a $1.80 annualized dividend and a yield of 1.19%. Costco Wholesale Corp.’s dividend payout ratio is 33.71%.
In other Costco Wholesale Corp. news, VP Richard A. Galanti sold 1,930 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $143.53, for a total transaction of $277,012.90. Following the sale, the vice president now directly owns 36,650 shares in the company, valued at approximately $5,260,374.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James D. Sinegal sold 20,114 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $149.02, for a total value of $2,997,388.28. Following the sale, the director now owns 768,136 shares in the company, valued at $114,467,626.72. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Fayez Sarofim & Co. increased its position in Costco Wholesale Corp. by 17.8% in the third quarter. Fayez Sarofim & Co. now owns 13,246 shares of the retailer’s stock worth $2,020,000 after buying an additional 2,000 shares during the period. ETRADE Capital Management LLC increased its position in Costco Wholesale Corp. by 7.8% in the third quarter. ETRADE Capital Management LLC now owns 1,624 shares of the retailer’s stock worth $248,000 after buying an additional 118 shares during the period. Efficient Market Advisors LLC increased its position in Costco Wholesale Corp. by 1.8% in the third quarter. Efficient Market Advisors LLC now owns 1,919 shares of the retailer’s stock worth $293,000 after buying an additional 34 shares during the period. D.A. Davidson & CO. increased its position in Costco Wholesale Corp. by 0.6% in the third quarter. D.A. Davidson & CO. now owns 111,994 shares of the retailer’s stock worth $17,075,000 after buying an additional 670 shares during the period. Finally, Whalerock Point Partners LLC purchased a new position in Costco Wholesale Corp. during the third quarter worth about $859,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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