Costco Wholesale Corp. (COST) Upgraded at Northcoast Research
Costco Wholesale Corp. (NASDAQ:COST) was upgraded by equities researchers at Northcoast Research from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.
Several other equities analysts have also commented on COST. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $175.00 target price on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of Costco Wholesale Corp. in a report on Sunday, July 10th. Nomura set a $185.00 price objective on Costco Wholesale Corp. and gave the stock a “buy” rating in a report on Saturday, October 1st. Finally, Cowen and Company set a $170.00 price objective on Costco Wholesale Corp. and gave the stock a “buy” rating in a report on Sunday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $172.03.
Costco Wholesale Corp. (NASDAQ:COST) opened at 149.11 on Wednesday. The stock has a 50 day moving average price of $152.24 and a 200-day moving average price of $155.95. The firm has a market capitalization of $65.24 billion, a PE ratio of 27.98 and a beta of 0.71. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73.
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Costco Wholesale Corp. (NASDAQ:COST) last posted its earnings results on Thursday, September 29th. The retailer reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.04. The company earned $35.73 billion during the quarter. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. On average, equities research analysts forecast that Costco Wholesale Corp. will post $5.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, November 2nd. Costco Wholesale Corp.’s payout ratio is 33.71%.
In other news, Director John W. Meisenbach sold 5,737 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now directly owns 4,652 shares of the company’s stock, valued at $780,326.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James D. Sinegal sold 20,114 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly 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 large investors have recently modified their holdings of COST. FCM Investments TX acquired a new stake in shares of Costco Wholesale Corp. during the second quarter valued at about $133,000. Zions Bancorporation increased its stake in shares of Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock valued at $139,000 after buying an additional 417 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock valued at $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. increased its stake in shares of Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock valued at $169,000 after buying an additional 111 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock valued at $172,000 after buying an additional 491 shares in the last quarter. 73.13% of the stock is currently owned by institutional investors.
About Costco Wholesale Corp.
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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