Oppenheimer Holdings Inc. Analysts Give Costco Wholesale Co. (COST) a $185.00 Price Target
Costco Wholesale Co. (NASDAQ:COST) has been assigned a $185.00 price objective by equities research analysts at Oppenheimer Holdings Inc. in a research report issued on Saturday. The brokerage presently has a “buy” rating on the retailer’s stock. Oppenheimer Holdings Inc.’s price objective points to a potential upside of 4.01% from the stock’s previous close.
Several other research analysts have also weighed in on the company. Royal Bank of Canada lifted their target price on Costco Wholesale from $182.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus lifted their target price on Costco Wholesale from $185.00 to $191.00 and gave the company a “buy” rating in a research report on Friday. Gordon Haskett began coverage on Costco Wholesale in a research report on Tuesday, May 9th. They issued an “accumulate” rating and a $191.00 target price on the stock. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $182.09 price target on the stock in a research report on Monday, May 8th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Costco Wholesale in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $180.38.
Costco Wholesale (NASDAQ:COST) opened at 177.86 on Friday. Costco Wholesale has a 1-year low of $142.11 and a 1-year high of $183.18. The stock has a 50 day moving average price of $173.09 and a 200 day moving average price of $165.53. The company has a market cap of $78.07 billion, a PE ratio of 32.81 and a beta of 0.89. Costco Wholesale also saw some unusual options trading on Thursday. Stock traders bought 2,427 call options on the stock. This is an increase of 380% compared to the average daily volume of 506 call options.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The business had revenue of $28.86 billion for the quarter, compared to analyst estimates of $28.57 billion. During the same period last year, the company earned $1.24 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Costco Wholesale will post $5.65 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Friday, May 26th. Shareholders of record on Wednesday, May 10th were issued a $7.00 dividend. This represents a yield of 1.13%. This is an increase from Costco Wholesale’s previous special dividend of $0.45. The ex-dividend date was Wednesday, May 10th. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.79%.
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In other Costco Wholesale news, Director James D. Sinegal sold 17,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $164.52, for a total value of $2,796,840.00. Following the completion of the transaction, the director now directly owns 792,594 shares of the company’s stock, valued at approximately $130,397,564.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James D. Sinegal sold 100,000 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $166.35, for a total transaction of $16,635,000.00. Following the completion of the transaction, the director now directly owns 717,296 shares of the company’s stock, valued at $119,322,189.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,000 shares of company stock valued at $20,099,640. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently bought and sold shares of COST. Garde Capital Inc. increased its stake in Costco Wholesale by 233.2% in the third quarter. Garde Capital Inc. now owns 10,361 shares of the retailer’s stock worth $1,498,000 after buying an additional 7,251 shares in the last quarter. PICTET BANK & TRUST Ltd increased its stake in Costco Wholesale by 21.1% in the third quarter. PICTET BANK & TRUST Ltd now owns 25,120 shares of the retailer’s stock worth $3,831,000 after buying an additional 4,380 shares in the last quarter. Pictet & Cie Europe SA increased its stake in Costco Wholesale by 29.7% in the third quarter. Pictet & Cie Europe SA now owns 8,730 shares of the retailer’s stock worth $1,331,000 after buying an additional 2,000 shares in the last quarter. Progressive Investment Management Corp increased its stake in Costco Wholesale by 0.7% in the third quarter. Progressive Investment Management Corp now owns 18,279 shares of the retailer’s stock worth $2,788,000 after buying an additional 129 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in Costco Wholesale by 18.1% in the third quarter. Sigma Planning Corp now owns 10,141 shares of the retailer’s stock worth $1,547,000 after buying an additional 1,551 shares in the last quarter. 73.12% of the stock is owned by institutional investors.
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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