Costco Wholesale (COST) Upgraded at BMO Capital Markets
BMO Capital Markets upgraded shares of Costco Wholesale (NASDAQ:COST) from a market perform rating to an outperform rating in a research report report published on Monday morning, Marketbeat reports. They currently have $215.00 target price on the retailer’s stock, up from their previous target price of $192.73.
A number of other brokerages have also commented on COST. Oppenheimer reissued a buy rating on shares of Costco Wholesale in a research note on Friday, December 15th. Susquehanna Bancshares lifted their price target on Costco Wholesale from $205.00 to $215.00 and gave the company a positive rating in a research note on Friday, December 15th. Jefferies Group reissued a hold rating on shares of Costco Wholesale in a research note on Thursday, December 14th. Robert W. Baird reissued a buy rating and set a $215.00 price target on shares of Costco Wholesale in a research note on Friday, December 15th. Finally, Telsey Advisory Group lifted their price target on Costco Wholesale from $186.00 to $195.00 and gave the company an outperform rating in a research note on Friday, December 15th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $187.32.
Shares of Costco Wholesale (COST) opened at $187.51 on Monday. Costco Wholesale has a 12 month low of $150.00 and a 12 month high of $195.35. The company has a market capitalization of $82,711.71, a PE ratio of 31.34, a PEG ratio of 3.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.43 and a current ratio of 0.98.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is currently 31.80%.
In other Costco Wholesale news, Director Richard M. Libenson sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.03, for a total value of $3,860,600.00. Following the transaction, the director now directly owns 3,919 shares of the company’s stock, valued at $756,484.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard A. Galanti sold 5,000 shares of the business’s 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 transaction, the vice president now directly owns 41,396 shares in the company, valued at $6,647,369.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,842 shares of company stock worth $10,347,448. 0.74% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its holdings in shares of Costco Wholesale by 4.2% during the third quarter. Parametric Portfolio Associates LLC now owns 1,326,644 shares of the retailer’s stock valued at $217,954,000 after acquiring an additional 53,284 shares in the last quarter. AXA increased its holdings in shares of Costco Wholesale by 1.9% during the third quarter. AXA now owns 704,782 shares of the retailer’s stock valued at $115,788,000 after acquiring an additional 13,404 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Costco Wholesale during the third quarter valued at approximately $3,624,000. Public Employees Retirement System of Ohio increased its holdings in shares of Costco Wholesale by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 302,465 shares of the retailer’s stock valued at $49,692,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Orleans Capital Management Corp LA bought a new stake in shares of Costco Wholesale during the third quarter valued at approximately $329,000. 71.22% of the stock is currently owned by hedge funds and other institutional investors.
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Costco Wholesale 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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