Costco Wholesale Corporation’s (NASDAQ:COST) Buy Rating Reaffirmed at Stifel Nicolaus
Several other brokerages have also recently commented on COST. Wells Fargo & Company reaffirmed a hold rating on shares of Costco Wholesale Corporation in a research report on Thursday, May 4th. Cowen and Company reiterated an outperform rating on shares of Costco Wholesale Corporation in a research note on Tuesday, June 6th. BMO Capital Markets reiterated an outperform rating and set a $195.00 price objective on shares of Costco Wholesale Corporation in a research note on Friday, June 2nd. Guggenheim reiterated a neutral rating on shares of Costco Wholesale Corporation in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Costco Wholesale Corporation from a conviction-buy rating to a neutral rating and dropped their price target for the company from $197.00 to $176.00 in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $179.11.
Shares of Costco Wholesale Corporation (COST) traded up 0.33% during trading on Friday, hitting $156.95. The stock had a trading volume of 2,626,635 shares. The firm’s 50-day moving average is $158.29 and its 200 day moving average is $168.02. The firm has a market cap of $68.84 billion, a price-to-earnings ratio of 27.25 and a beta of 0.93. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business had revenue of $28.86 billion for the quarter, compared to analysts’ expectations of $28.57 billion. During the same quarter last year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Corporation will post $5.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, August 16th. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.
In other news, insider John D. Mckay sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $181.60, for a total value of $544,800.00. Following the completion of the transaction, the insider now owns 62,607 shares in the company, valued at $11,369,431.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the transaction, the director now owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $2,677,430 in the last ninety days. Insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Adviser Investments LLC acquired a new position in shares of Costco Wholesale Corporation during the fourth quarter valued at approximately $420,000. Asset Management One Co. Ltd. boosted its position in shares of Costco Wholesale Corporation by 1,607.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 769,613 shares of the retailer’s stock valued at $123,279,000 after buying an additional 724,536 shares during the last quarter. Sii Investments Inc. WI boosted its position in shares of Costco Wholesale Corporation by 31.8% in the fourth quarter. Sii Investments Inc. WI now owns 1,748 shares of the retailer’s stock valued at $280,000 after buying an additional 422 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Costco Wholesale Corporation by 11.0% in the fourth quarter. Rafferty Asset Management LLC now owns 6,277 shares of the retailer’s stock valued at $1,005,000 after buying an additional 620 shares during the period. Finally, Iberiabank Corp raised its stake in Costco Wholesale Corporation by 5.6% in the fourth quarter. Iberiabank Corp now owns 4,885 shares of the retailer’s stock valued at $782,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 74.14% of the company’s stock.
Costco Wholesale Corporation Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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