Oppenheimer Holdings Weighs in on Costco Wholesale Corporation’s FY2017 Earnings (NASDAQ:COST)
Costco Wholesale Corporation (NASDAQ:COST) – Equities research analysts at Oppenheimer Holdings increased their FY2017 EPS estimates for shares of Costco Wholesale Corporation in a report released on Friday. Oppenheimer Holdings analyst B. Nagel now forecasts that the retailer will post earnings of $5.76 per share for the year, up from their previous estimate of $5.74. Oppenheimer Holdings currently has a “Buy” rating on the stock.
A number of other brokerages also recently commented on COST. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, May 4th. Cowen and Company reiterated an “outperform” rating on shares of Costco Wholesale Corporation in a research note on Tuesday, June 6th. BMO Capital Markets reiterated an “outperform” rating and set a $195.00 target price on shares of Costco Wholesale Corporation in a research note on Friday, June 2nd. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale Corporation in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and lowered their target price for the stock from $197.00 to $176.00 in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, ten 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 company presently has a consensus rating of “Buy” and an average price target of $179.11.
Shares of Costco Wholesale Corporation (COST) opened at 156.65 on Monday. The stock has a 50 day moving average price of $155.46 and a 200-day moving average price of $167.57. The firm has a market cap of $68.71 billion, a PE ratio of 27.20 and a beta of 0.93. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.09. The firm had revenue of $28.86 billion during the quarter, compared to analysts’ expectations of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of COST. Delta Asset Management LLC TN boosted its position in shares of Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after buying an additional 65 shares during the period. Almanack Investment Partners LLC. acquired a new stake in Costco Wholesale Corporation during the second quarter valued at approximately $101,000. Mercer Capital Advisers Inc. raised its stake 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 in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale Corporation during the second quarter valued at approximately $107,000. Finally, Mosaic Family Wealth LLC raised its stake 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 in the last quarter. 73.91% of the stock is owned by institutional investors.
In other Costco Wholesale Corporation news, VP James P. Murphy sold 5,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the transaction, the vice president now directly owns 48,845 shares of the company’s stock, valued at $8,855,598.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the transaction, the director now directly owns 4,974 shares of the company’s stock, valued at $792,109.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 34.66%.
Costco Wholesale Corporation 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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