Costco Wholesale (COST) Given “Buy” Rating at Oppenheimer
Other research analysts have also issued reports about the stock. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $186.00 to $195.00 and gave the company an outperform rating in a report on Friday. UBS upped their target price on shares of Costco Wholesale to $210.00 and gave the company a buy rating in a report on Friday. Stifel Nicolaus restated a buy rating and issued a $200.00 target price (up from $185.00) on shares of Costco Wholesale in a report on Friday. Cowen set a $214.00 target price on shares of Costco Wholesale and gave the company a buy rating in a report on Friday. Finally, Morgan Stanley set a $175.00 target price on shares of Costco Wholesale and gave the company a hold rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $184.20.
Costco Wholesale (NASDAQ:COST) traded up $6.20 during trading on Friday, hitting $192.73. 7,486,459 shares of the company traded hands, compared to its average volume of 2,967,005. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $195.35. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. The stock has a market cap of $81,511.67, a price-to-earnings ratio of 31.04, a PEG ratio of 3.02 and a beta of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
In other Costco Wholesale news, VP Richard A. Galanti sold 5,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the sale, the vice president now owns 41,396 shares of the company’s stock, valued at $6,647,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the sale, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,150,152.08. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock valued at $5,520,848 in the last ninety days. 0.74% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of COST. Dai Ichi Life Insurance Company Ltd grew its position in shares of Costco Wholesale by 107.8% during the first quarter. Dai Ichi Life Insurance Company Ltd now owns 67,456 shares of the retailer’s stock worth $11,312,000 after buying an additional 35,000 shares in the last quarter. Arizona State Retirement System grew its position in shares of Costco Wholesale by 0.4% during the first quarter. Arizona State Retirement System now owns 120,095 shares of the retailer’s stock worth $20,139,000 after buying an additional 500 shares in the last quarter. Blair William & Co. IL grew its position in shares of Costco Wholesale by 4.6% during the first quarter. Blair William & Co. IL now owns 613,112 shares of the retailer’s stock worth $104,119,000 after buying an additional 26,929 shares in the last quarter. Accredited Investors Inc. grew its position in shares of Costco Wholesale by 0.8% during the first quarter. Accredited Investors Inc. now owns 2,150 shares of the retailer’s stock worth $361,000 after buying an additional 17 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth approximately $202,000. 71.49% of the stock is owned by institutional investors.
About Costco Wholesale
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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