Loop Capital started coverage on shares of Costco (NASDAQ:COST) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $224.00 price objective on the retailer’s stock.
Several other brokerages have also recently issued reports on COST. Vetr cut shares of Costco from a buy rating to a hold rating and set a $200.28 price target on the stock. in a research report on Monday, January 22nd. BMO Capital Markets set a $223.00 price target on shares of Costco and gave the stock a buy rating in a research report on Wednesday, January 24th. Wells Fargo raised shares of Costco from a market perform rating to an outperform rating and reduced their price target for the stock from $191.42 to $188.91 in a research report on Monday, April 16th. Royal Bank of Canada reissued an outperform rating and set a $205.00 price target (down previously from $209.00) on shares of Costco in a research report on Thursday, March 8th. Finally, BidaskClub cut shares of Costco from a strong-buy rating to a buy rating in a research report on Friday, March 9th. Eight analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $193.37.
Shares of COST opened at $198.96 on Wednesday. The stock has a market cap of $87.59 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. Costco has a 1 year low of $150.00 and a 1 year high of $201.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00.
Costco (NASDAQ:COST) last issued its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). The business had revenue of $33 billion for the quarter, compared to analyst estimates of $32.73 billion. Costco had a return on equity of 24.74% and a net margin of 2.18%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. analysts predict that Costco will post 6.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be paid a $0.57 dividend. This is a positive change from Costco’s previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, May 10th. Costco’s dividend payout ratio is currently 39.18%.
In other Costco news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $191.31, for a total value of $573,930.00. Following the transaction, the director now directly owns 8,654 shares in the company, valued at $1,655,596.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy L. Rose sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $184.46, for a total transaction of $2,213,520.00. Following the completion of the transaction, the vice president now owns 22,903 shares in the company, valued at $4,224,687.38. The disclosure for this sale can be found here. Insiders sold 62,067 shares of company stock worth $11,700,142 over the last quarter. 0.74% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in COST. Wealthcare Advisory Partners LLC acquired a new stake in shares of Costco in the third quarter valued at approximately $102,000. Assetmark Inc. boosted its holdings in shares of Costco by 137.0% in the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock valued at $105,000 after acquiring an additional 326 shares during the period. Well Done LLC acquired a new stake in shares of Costco in the first quarter valued at approximately $109,000. Zions Bancorporation boosted its holdings in shares of Costco by 148.4% in the third quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after acquiring an additional 411 shares during the period. Finally, Smart Portfolios LLC acquired a new stake in shares of Costco in the first quarter valued at approximately $113,000. Institutional investors own 72.99% of the company’s stock.
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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