Guggenheim Reiterates “Hold” Rating for Costco Wholesale Co. (COST)
Several other equities research analysts have also recently issued reports on COST. Robert W. Baird set a $200.00 price target on shares of Costco Wholesale and gave the stock a buy rating in a research note on Thursday, July 27th. Deutsche Bank AG set a $172.00 price target on shares of Costco Wholesale and gave the stock a hold rating in a research note on Monday, July 31st. BidaskClub raised shares of Costco Wholesale from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Stifel Nicolaus set a $173.00 price target on shares of Costco Wholesale and gave the stock a buy rating in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company reaffirmed a hold rating on shares of Costco Wholesale in a research note on Thursday, August 3rd. Twelve equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $178.34.
Shares of Costco Wholesale (NASDAQ:COST) opened at $171.62 on Wednesday. The company has a market cap of $74,620.00, a PE ratio of 29.64, a P/E/G ratio of 2.75 and a beta of 0.93. Costco Wholesale has a 12 month low of $150.00 and a 12 month high of $183.18. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the prior year, the company earned $1.77 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. equities analysts anticipate that Costco Wholesale will post 6.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.17%. Costco Wholesale’s payout ratio is 32.89%.
In related news, insider John D. Mckay sold 8,111 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $172.78, for a total value of $1,401,418.58. Following the transaction, the insider now owns 66,751 shares in the company, valued at $11,533,237.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the completion of the transaction, the director now owns 6,974 shares in the company, valued at approximately $1,099,032.66. The disclosure for this sale can be found here. Insiders sold 30,842 shares of company stock worth $5,128,658 in the last 90 days. 0.74% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Costco Wholesale during the third quarter valued at approximately $3,624,000. Public Employees Retirement System of Ohio raised its stake in shares of Costco Wholesale by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 302,465 shares of the retailer’s stock valued at $49,692,000 after purchasing an additional 1,112 shares during the period. Orleans Capital Management Corp LA purchased a new stake in shares of Costco Wholesale during the third quarter valued at approximately $329,000. Daniel Devine & Co purchased a new stake in shares of Costco Wholesale during the third quarter valued at approximately $1,654,000. Finally, Garde Capital Inc. raised its stake in shares of Costco Wholesale by 221.1% during the third quarter. Garde Capital Inc. now owns 9,983 shares of the retailer’s stock valued at $1,640,000 after purchasing an additional 6,874 shares during the period. Hedge funds and other institutional investors own 73.54% of the company’s stock.
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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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