Costco Wholesale Co. (NASDAQ: COST) has been given a consensus rating of “Buy” among the twenty-eight brokerage firms that currently cover the company, reports Marketbeat.com. Nine equity research analysts rated the stock with a keep recommendation and eighteen issued a buy recommendation on the company. The twelve month average price target among brokers who reported on the stock in the past year is $ 401.00.
COST has been the subject of several research reports. Loop Capital raised its target price on Costco Wholesale from $ 415.00 to $ 425.00 and gave the company a âbuyâ rating in a research note on Friday, May 28. They noted that the move was an appraisal call. Deutsche Bank Aktiengesellschaft raised its price target on Costco Wholesale from $ 352.00 to $ 363.00 and gave the company a “conservation” rating in a research note on Friday, May 28. Robert W. Baird increased his target price on Costco Wholesale from $ 415.00 to $ 430.00 and gave the stock an “outperformance” rating in a Friday May 28 research report. Morgan Stanley raised its price target for Costco Wholesale shares from $ 410.00 to $ 415.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, the Goldman Sachs group raised its price target for Costco Wholesale shares from $ 377.00 to $ 415.00 and gave the stock a “buy” rating in a report released on Thursday, April 8. .
Actions of COST opened at $ 383.87 on Friday. The company’s 50-day moving average is $ 372.26. Costco Wholesale has a 1 year low of $ 293.84 and a 1 year high of $ 393.15. The company has a market cap of $ 169.88 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 4.22, and a beta of 0.65. The company has a quick ratio of 0.47, a current ratio of 0.99, and a debt ratio of 0.47.
Costco Wholesale (NASDAQ: COST) last released its results on Wednesday, May 26. The retailer reported earnings per share (EPS) of $ 2.75 for the quarter, beating the Zacks’ consensus estimate of $ 2.28 by $ 0.47. Costco Wholesale had a net margin of 2.43% and a return on equity of 24.94%. The company posted revenue of $ 44.38 billion for the quarter, compared to a consensus estimate of $ 43.82 billion. In the same quarter of the previous year, the company achieved EPS of $ 1.89. Costco Wholesale’s quarterly revenues increased 21.8% from the same quarter last year. On average, research analysts predict that Costco Wholesale will post 10.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 14. Investors of record on Friday April 30 received a dividend of $ 0.79. This is an increase from Costco Wholesale’s previous quarterly dividend of $ 0.70. This represents a dividend of $ 3.16 on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Thursday April 29. Costco Wholesale’s payout ratio is 35.71%.
In related news, CFO Richard A. Galanti sold 2,230 shares of the company in a transaction that took place on Thursday, April 29. The stock was sold for an average price of $ 372.06, for a total value of $ 829,693.80. As a result of the transaction, the Chief Financial Officer now owns 22,871 shares of the company, valued at $ 8,509,384.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In addition, Vice President Roland Michael Vachris sold 4,300 shares in a trade on Monday, March 22. The shares were sold for an average price of $ 334.30, for a total value of $ 1,437,490.00. Following the transaction, the Vice-President now directly owns 15,602 shares of the company, valued at $ 5,215,748.60. Disclosure of this sale can be found here. 0.22% of the shares are currently owned by insiders.
Several hedge funds have recently bought and sold shares in the company. Norges Bank purchased a new position in Costco Wholesale shares in the fourth quarter valued at approximately $ 1,784,019,000. Morgan Stanley increased its position in shares of Costco Wholesale by 40.3% in the fourth quarter. Morgan Stanley now owns 7,084,438 shares of the retailer valued at $ 2,669,275,000 after purchasing an additional 2,034,871 shares during the period. BlackRock Inc. increased its stake in Costco Wholesale by 3.6% in the 1st quarter. BlackRock Inc. now owns 29,726,284 shares of the retailer valued at $ 10,477,920,000 after purchasing an additional 1,042,052 shares in the last quarter. Alliancebernstein LP increased its stake in Costco Wholesale by 17.2% during the first quarter. Alliancebernstein LP now owns 4,452,765 shares of the retailer valued at $ 1,569,511,000 after purchasing an additional 652,748 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its equity stake in Costco Wholesale by 149.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,077,210 shares of the retailer valued at $ 379,695,000 after acquiring an additional 645,468 shares in the last quarter. Institutional investors hold 65.57% of the shares of the company.
Costco Wholesale Corporation, along with its subsidiaries, operates member warehouses in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland , China and Taiwan. It offers branded and private label products in a range of merchandise categories.
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