Brokerages Set Costco Wholesale Corporation (COST) Price Target at $181.43
Shares of Costco Wholesale Corporation (NASDAQ:COST) have been given an average recommendation of “Buy” by the thirty-three ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $181.64.
A number of equities analysts have recently issued reports on COST shares. Vetr raised Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $168.75 price target on the stock in a research report on Tuesday, July 11th. Robert W. Baird set a $200.00 price target on Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corporation in a research report on Thursday, May 4th. BidaskClub downgraded Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Cowen and Company set a $180.00 price objective on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Saturday, July 22nd.
In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the sale, the director now owns 5,974 shares of the company’s stock, valued at approximately $957,512.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John D. Mckay sold 3,000 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $181.60, for a total transaction of $544,800.00. Following the completion of the sale, the insider now directly owns 62,607 shares of the company’s stock, valued at approximately $11,369,431.20. The disclosure for this sale can be found here. In the last three months, insiders sold 15,000 shares of company stock valued at $2,677,430. Corporate insiders own 0.74% of the company’s stock.
Several hedge funds have recently bought and sold shares of COST. Delta Asset Management LLC TN boosted its position in Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after buying an additional 65 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Costco Wholesale Corporation during the second quarter worth $107,000. Mercer Capital Advisers Inc. boosted its position in Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after buying an additional 23 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the last quarter. Finally, Ledyard National Bank boosted its position in Costco Wholesale Corporation by 19.1% in the second quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock worth $130,000 after buying an additional 130 shares during the last quarter. 74.14% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation (NASDAQ COST) opened at 156.95 on Monday. Costco Wholesale Corporation has a 12 month low of $142.11 and a 12 month high of $183.18. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 27.25 and a beta of 0.93. The stock has a 50 day moving average price of $158.29 and a 200 day moving average price of $168.02.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $28.86 billion for the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Analysts anticipate that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.50 dividend. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.
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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