Costco Wholesale (NASDAQ:COST) had its price objective increased by Deutsche Bank from $298.00 to $299.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a hold rating on the retailer’s stock.
Several other brokerages have also recently weighed in on COST. Guggenheim reiterated a hold rating on shares of Costco Wholesale in a research note on Monday, June 29th. Oppenheimer boosted their price target on Costco Wholesale from $335.00 to $355.00 and gave the company an outperform rating in a research note on Thursday, July 9th. BidaskClub lowered Costco Wholesale from a hold rating to a sell rating in a research note on Thursday, June 18th. Credit Suisse Group reaffirmed a hold rating on shares of Costco Wholesale in a report on Thursday, June 4th. Finally, Robert W. Baird reissued a buy rating and set a $335.00 target price on shares of Costco Wholesale in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $326.46.
Shares of NASDAQ COST opened at $325.53 on Thursday. The firm has a market cap of $143.73 billion, a P/E ratio of 38.94, a price-to-earnings-growth ratio of 4.58 and a beta of 0.68. The business’s 50 day moving average is $312.74 and its 200-day moving average is $306.86. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.59. Costco Wholesale has a 1-year low of $262.71 and a 1-year high of $331.49.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.03). The firm had revenue of $36.45 billion for the quarter, compared to the consensus estimate of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. Analysts forecast that Costco Wholesale will post 8.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, July 30th. Costco Wholesale’s dividend payout ratio (DPR) is currently 34.19%.
In related news, insider Daniel M. Hines sold 5,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $309.31, for a total transaction of $1,546,550.00. Following the completion of the transaction, the insider now directly owns 15,632 shares of the company’s stock, valued at approximately $4,835,133.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Patrick J. Callans sold 2,500 shares of Costco Wholesale stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $309.22, for a total value of $773,050.00. Following the transaction, the vice president now directly owns 55,114 shares in the company, valued at $17,042,351.08. The disclosure for this sale can be found here. Insiders sold 30,380 shares of company stock valued at $9,514,249 in the last ninety days. 0.22% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Costco Wholesale by 9.2% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,427 shares of the retailer’s stock valued at $4,399,000 after purchasing an additional 1,300 shares during the last quarter. Burns J W & Co. Inc. NY increased its holdings in Costco Wholesale by 4.8% in the second quarter. Burns J W & Co. Inc. NY now owns 11,274 shares of the retailer’s stock worth $3,418,000 after purchasing an additional 513 shares in the last quarter. Clarius Group LLC lifted its stake in Costco Wholesale by 5.0% in the second quarter. Clarius Group LLC now owns 8,477 shares of the retailer’s stock valued at $2,570,000 after buying an additional 406 shares during the period. First Allied Advisory Services Inc. boosted its holdings in shares of Costco Wholesale by 7.8% during the 1st quarter. First Allied Advisory Services Inc. now owns 16,124 shares of the retailer’s stock worth $4,597,000 after buying an additional 1,166 shares in the last quarter. Finally, Colony Group LLC boosted its holdings in shares of Costco Wholesale by 14.3% during the 1st quarter. Colony Group LLC now owns 17,271 shares of the retailer’s stock worth $4,925,000 after buying an additional 2,158 shares in the last quarter. Institutional investors own 68.79% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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