Costco Wholesale Corp. (COST) Upgraded to Buy by Northcoast Research
Costco Wholesale Corp. (NASDAQ:COST) was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, The Fly reports.
COST has been the topic of several other research reports. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $175.00 price target on shares of Costco Wholesale Corp. in a research report on Thursday, June 30th. Argus reissued a “buy” rating and set a $175.00 price target on shares of Costco Wholesale Corp. in a research note on Tuesday, July 5th. Zacks Investment Research raised Costco Wholesale Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Piper Jaffray Cos. reissued an “overweight” rating and set a $171.00 price target on shares of Costco Wholesale Corp. in a research note on Wednesday, July 6th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a research note on Saturday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale Corp. presently has an average rating of “Buy” and an average target price of $172.03.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 149.11 on Wednesday. The stock has a market capitalization of $65.24 billion, a PE ratio of 27.98 and a beta of 0.71. The company’s 50 day moving average price is $152.24 and its 200-day moving average price is $155.95. Costco Wholesale Corp. has a 52 week low of $138.57 and a 52 week 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The business earned $35.73 billion during the quarter. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Corp. will post $5.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. Costco Wholesale Corp.’s payout ratio is 33.71%.
In other news, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $151.12, for a total transaction of $604,480.00. Following the transaction, the vice president now directly owns 51,045 shares in the company, valued at $7,713,920.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James D. Sinegal sold 20,114 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $149.02, for a total transaction of $2,997,388.28. Following the transaction, the director now owns 768,136 shares in the company, valued at $114,467,626.72. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FCM Investments TX acquired a new stake in Costco Wholesale Corp. during the second quarter worth $133,000. Zions Bancorporation increased its stake in Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock worth $139,000 after buying an additional 417 shares during the period. Global X Management Co. LLC increased its stake in Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares during the period. PineBridge Investments L.P. increased its stake in Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares during the period. Finally, Signaturefd LLC increased its stake in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares during the period. Institutional investors own 73.13% of the company’s stock.
Costco Wholesale Corp. Company Profile
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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