Other analysts have also issued research reports about the stock. Cowen and Company reissued an outperform rating on shares of Costco Wholesale Corporation in a research report on Monday, July 24th. Stifel Nicolaus set a $173.00 price objective on shares of Costco Wholesale Corporation and gave the company a buy rating in a research note on Thursday, August 3rd. Wells Fargo & Company reaffirmed a hold rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Vetr cut shares of Costco Wholesale Corporation from a strong-buy rating to a buy rating and set a $183.04 price objective for the company. in a research note on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $185.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Twelve equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Costco Wholesale Corporation currently has an average rating of Buy and an average price target of $178.34.
Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $170.98 on Friday. Costco Wholesale Corporation has a 12-month low of $149.52 and a 12-month high of $183.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. The stock has a market cap of $74,716.48, a P/E ratio of 29.38, a PEG ratio of 2.73 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. sell-side analysts expect that Costco Wholesale Corporation will post 6.45 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.17%. Costco Wholesale Corporation’s dividend payout ratio is presently 32.89%.
In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $157.59, for a total value of $157,590.00. Following the sale, the director now owns 6,974 shares in the company, valued at $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John D. Mckay sold 8,111 shares of the company’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 completion of the sale, the insider now owns 66,751 shares in the company, valued at approximately $11,533,237.78. The disclosure for this sale can be found here. Insiders sold 30,842 shares of company stock valued at $5,128,658 over the last quarter. 0.74% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Costco Wholesale Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after buying an additional 937,121 shares during the period. BlackRock Inc. grew its holdings in Costco Wholesale Corporation by 2.9% in the 2nd quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after buying an additional 703,825 shares in the last quarter. State Street Corp grew its holdings in shares of Costco Wholesale Corporation by 1.3% during the 1st quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after purchasing an additional 239,479 shares during the period. Capital World Investors grew its holdings in shares of Costco Wholesale Corporation by 6.0% during the 2nd quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after purchasing an additional 1,007,720 shares during the period. Finally, FMR LLC grew its holdings in shares of Costco Wholesale Corporation by 1.5% during the 1st quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after purchasing an additional 177,200 shares during the period. 73.54% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Corporation Company Profile
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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