Costco Wholesale Co. (NASDAQ: COST) received an average rating of “Buy” by the twenty-three brokerages that currently cover the stock, reports MarketBeat.com. Seven equity research analysts rated the stock with a keep recommendation and sixteen issued a buy recommendation on the company. The 1-year average price target among analysts who issued ratings on the stock in the past year is $ 465.55.
COST has been the subject of several recent analyst reports. Zacks Investment Research downgraded Costco Wholesale shares from a “hold” rating to a “buy” rating and set a target price of $ 490.00 for the company in a report released on Monday, September 6. Credit Suisse Group raised its price target for Costco Wholesale shares from $ 400.00 to $ 490.00 and assigned the stock a “neutral” rating in a research note on Monday, September 27. Oppenheimer reiterated a “buy” note and issued a price target of $ 500.00 on Costco Wholesale shares in a research note on Friday, September 17. Stifel Nicolaus raised his price target for Costco Wholesale shares from $ 420.00 to $ 440.00 and gave the stock a “buy” rating in a research note on Friday, July 23. Finally, Morgan Stanley raised its price target for Costco Wholesale shares from $ 500.00 to $ 510.00 and assigned the stock an “overweight” rating in a Friday September 24th research note.
In addition, Vice-President Joseph P. Portera sold 3,287 shares in a transaction that took place on Friday, August 13. The shares were sold for an average price of $ 445.50, for a total value of $ 1,464,358.50. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In addition, Vice President Roland Michael Vachris sold 4,000 shares of the company in a transaction that took place on Monday, July 12. The stock was sold at an average price of $ 409.40, for a total trade of $ 1,637,600.00. Following the sale, the Vice President now directly owns 11,602 shares of the company, valued at approximately $ 4,749,858.80. Disclosure of this sale can be found here. Company insiders own 0.22% of the company’s shares.
Hedge funds and other institutional investors have recently changed their holdings in the company. Eqis Capital Management Inc. increased its stake in the shares of Costco Wholesale by 1.5% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,047 shares of the retailer valued at $ 1,997,000 after purchasing 73 additional shares during the period. Comgest Global Investors SAS increased its stake in Costco Wholesale by 90.0% in the 1st quarter. Comgest Global Investors SAS now owns 88,273 shares of the retailer valued at $ 31,114,000 after acquiring an additional 41,805 shares during the period. Employees Retirement System of Texas increased its stake in Costco Wholesale by 30.8% in the second quarter. Employees Retirement System of Texas now owns 80,700 shares of the retailer valued at $ 31,931,000 after acquiring an additional 19,000 shares during the period. The Canada Pension Plan Investment Board increased its stake in Costco Wholesale by 48.2% in the first quarter. The Canada Pension Plan Investment Board now owns 626,052 shares of the retailer valued at $ 220,671,000 after acquiring an additional 203,639 shares during the period. Finally, IHT Wealth Management LLC increased its stake in Costco Wholesale by 12.2% in the 1st quarter. IHT Wealth Management LLC now owns 6,842 shares of the retailer valued at $ 2,412,000 after acquiring an additional 745 shares during the period. 66.96% of the shares are currently held by institutional investors and hedge funds.
NASDAQ COST shares opened at $ 449.34 on Thursday. Costco Wholesale has a 1 year low of $ 307.00 and a 1 year high of $ 470.49. The stock has a market cap of $ 198.64 billion, a P / E ratio of 42.23, a price / earnings-growth ratio of 4.35 and a beta of 0.66. The company has a 50-day moving average of $ 451.23 and a 200-day moving average of $ 406.33. The company has a leverage ratio of 0.44, a current ratio of 1.00, and a quick ratio of 0.50.
Costco Wholesale (NASDAQ: COST) last released its results on Wednesday, September 22. The retailer reported earnings per share (EPS) of $ 3.90 for the quarter, beating the consensus estimate of $ 3.57 by $ 0.33. The company posted revenue of $ 61.44 billion in the quarter, compared to analysts’ expectations of $ 61.45 billion. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The company’s revenue for the quarter increased 17.5% from the same quarter last year. During the same period of the previous year, the company made a profit of $ 3.13 per share. Research analysts expect Costco Wholesale to post earnings per share of 10.64 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13. Shareholders of record on Friday July 30 received a dividend of $ 0.79 per share. This represents an annualized dividend of $ 3.16 and a return of 0.70%. The ex-dividend date was Thursday July 29. Costco Wholesale’s payout ratio is 35.71%.
Costco Wholesale Company Profile
Costco Wholesale Corp. operates member warehouses. Its product categories include food and sundries, food products, fresh products, sweet products and auxiliary products. It operates in the following segments: US operations, Canadian operations and other international operations. The company was founded by James D.
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