Costco Wholesale (COST) Price Target Raised to $195.00 at Telsey Advisory Group
Costco Wholesale (NASDAQ:COST) had its price objective upped by Telsey Advisory Group from $186.00 to $195.00 in a research report sent to investors on Friday. The brokerage currently has an outperform rating on the retailer’s stock.
Other analysts have also issued reports about the stock. Deutsche Bank restated a hold rating and set a $172.00 price target on shares of Costco Wholesale in a research report on Tuesday, September 5th. Citigroup upped their price target on shares of Costco Wholesale from $155.00 to $187.00 and gave the company a hold rating in a research report on Friday, October 6th. Oppenheimer restated a buy rating and set a $185.00 price target on shares of Costco Wholesale in a research report on Thursday, August 31st. Morgan Stanley lowered shares of Costco Wholesale from an overweight rating to an equal weight rating and cut their price target for the company from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Costco Wholesale from a buy rating to a hold rating in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $184.20.
Costco Wholesale (COST) traded up $6.20 on Friday, reaching $192.73. The company had a trading volume of 7,486,459 shares, compared to its average volume of 2,967,005. The company has a market capitalization of $81,511.67, a PE ratio of 31.04, a PEG ratio of 3.02 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $195.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.50 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.04%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.80%.
In other Costco Wholesale news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the completion of the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction of $802,900.00. Following the transaction, the vice president now directly owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock valued at $5,520,848 over the last 90 days. 0.74% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its stake in shares of Costco Wholesale by 4.1% during the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock valued at $544,809,000 after purchasing an additional 129,106 shares in the last quarter. Mechanics Bank Trust Department increased its stake in shares of Costco Wholesale by 4.8% during the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock valued at $5,366,000 after purchasing an additional 1,529 shares in the last quarter. Cadinha & Co. LLC increased its stake in shares of Costco Wholesale by 7.3% during the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock valued at $19,934,000 after purchasing an additional 8,518 shares in the last quarter. Stephens Inc. AR increased its position in shares of Costco Wholesale by 3.1% during the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock valued at $7,446,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Intersect Capital LLC increased its position in shares of Costco Wholesale by 143.4% during the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock valued at $861,000 after acquiring an additional 3,171 shares in the last quarter. 71.49% of the stock is owned by institutional investors and hedge funds.
About Costco Wholesale
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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