Costco Wholesale Corporation (COST) Stock Rating Reaffirmed by Cowen and Company
Costco Wholesale Corporation (NASDAQ:COST)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a report released on Monday. They presently have a $190.00 target price on the retailer’s stock. Cowen and Company’s target price indicates a potential upside of 15.61% from the company’s previous close.
Several other analysts have also commented on the stock. Gordon Haskett began coverage on shares of Costco Wholesale Corporation in a research report on Tuesday, May 9th. They issued an “accumulate” rating and a $191.00 price target on the stock. Robert W. Baird set a $200.00 target price on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Thursday, March 16th. Instinet reiterated a “buy” rating on shares of Costco Wholesale Corporation in a report on Friday, March 3rd. Citigroup Inc. lifted their price target on shares of Costco Wholesale Corporation from $184.00 to $196.00 and gave the company a “buy” rating in a report on Monday, March 6th. Finally, Vetr upgraded shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $177.50 price target on the stock in a report on Monday, March 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $181.49.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 1.66% during trading on Monday, reaching $164.34. The company had a trading volume of 3,168 shares. The firm has a market capitalization of $72.08 billion, a PE ratio of 28.53 and a beta of 0.96. The firm has a 50-day moving average of $176.49 and a 200 day moving average of $168.68. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. Costco Wholesale Corporation also was the target of some unusual options trading activity on Friday. Investors bought 4,563 call options on the company. This is an increase of 643% compared to the typical volume of 614 call options.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $28.86 billion during the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. Analysts expect that Costco Wholesale Corporation will post $5.76 earnings per share for the current year.
The business also recently disclosed a special dividend, which was paid on Friday, May 26th. Shareholders of record on Wednesday, May 10th were issued a dividend of $7.00 per share. This is a positive change from Costco Wholesale Corporation’s previous special dividend of $0.45. This represents a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, May 10th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
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In other news, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale Corporation stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total value of $906,600.00. Following the completion of the transaction, the insider now directly owns 28,786 shares of the company’s stock, valued at approximately $5,219,477.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James D. Sinegal sold 100,000 shares of Costco Wholesale Corporation stock in a transaction dated 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 have sold 113,000 shares of company stock valued at $18,992,900. 0.74% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COST. Mercer Capital Advisers Inc. raised its position in Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after buying an additional 201 shares during the period. Mosaic Family Wealth LLC raised its position in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares during the period. CKW Financial Group raised its position in Costco Wholesale Corporation by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $135,000 after buying an additional 200 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Costco Wholesale Corporation by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock valued at $154,000 after buying an additional 540 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Costco Wholesale Corporation by 67.3% in the first quarter. Proficio Capital Partners LLC now owns 927 shares of the retailer’s stock valued at $160,000 after buying an additional 373 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.
About Costco Wholesale Corporation
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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