Robert W. Baird Reiterates $175.00 Price Target for Costco Wholesale Corp. (COST)
COST has been the subject of a number of other reports. Nomura set a $185.00 target price on shares of Costco Wholesale Corp. and gave the company a buy rating in a research note on Saturday, October 1st. Cowen and Company set a $170.00 target price on shares of Costco Wholesale Corp. and gave the company a buy rating in a research note on Sunday, October 2nd. BMO Capital Markets set a $180.00 target price on shares of Costco Wholesale Corp. and gave the company a buy rating in a research note on Thursday, October 20th. JPMorgan Chase & Co. reissued a buy rating and set a $171.00 target price on shares of Costco Wholesale Corp. in a research note on Friday, November 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Costco Wholesale Corp. from $177.00 to $178.00 and gave the company an outperform rating in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Costco Wholesale Corp. has a consensus rating of Buy and an average price target of $172.11.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 150.11 on Monday. The firm has a market capitalization of $65.62 billion, a price-to-earnings ratio of 28.16 and a beta of 0.85. The stock has a 50 day moving average of $149.38 and a 200 day moving average of $155.57. Costco Wholesale Corp. has a 52-week low of $138.57 and a 52-week high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The business earned $35.73 billion during the quarter. During the same period last year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Costco Wholesale Corp. will post $5.93 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Wednesday, November 2nd. Costco Wholesale Corp.’s dividend payout ratio is 33.71%.
In other news, Director James D. Sinegal sold 20,114 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $149.02, for a total value of $2,997,388.28. Following the completion of the transaction, the director now owns 768,136 shares in the company, valued at approximately $114,467,626.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy L. Rose sold 4,000 shares of the stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $151.12, for a total transaction of $604,480.00. Following the completion of the transaction, the vice president now owns 51,045 shares of the company’s stock, valued at approximately $7,713,920.40. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. FCM Investments TX acquired a new position in shares of Costco Wholesale Corp. during the second quarter worth about $133,000. Global X Management Co. LLC raised its stake in Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock valued at $154,000 after buying an additional 722 shares during the last quarter. PineBridge Investments L.P. raised its stake in Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock valued at $169,000 after buying an additional 111 shares during the last quarter. Signaturefd LLC raised its stake in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock valued at $172,000 after buying an additional 491 shares during the last quarter. Finally, Peddock Capital Advisors LLC purchased a new stake in Costco Wholesale Corp. during the third quarter valued at $181,000. Institutional investors own 71.95% of the company’s stock.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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