Costco Wholesale Corporation (COST) Given “Outperform” Rating at Cowen and Company
Cowen and Company reissued their outperform rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research report released on Monday morning. The firm currently has a $190.00 price objective on the retailer’s stock.
Other analysts have also issued reports about the company. Gordon Haskett initiated coverage on Costco Wholesale Corporation in a report on Tuesday, May 9th. They issued an accumulate rating and a $191.00 price objective for the company. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the company a buy rating in a report on Thursday, March 16th. Instinet reaffirmed a buy rating on shares of Costco Wholesale Corporation in a report on Friday, March 3rd. Citigroup Inc. upped their target price on Costco Wholesale Corporation from $184.00 to $196.00 and gave the company a buy rating in a report on Monday, March 6th. Finally, Vetr raised Costco Wholesale Corporation from a hold rating to a buy rating and set a $177.50 target price for the company in a report on Monday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $180.64.
Costco Wholesale Corporation (COST) traded down 0.86% on Monday, hitting $162.93. The stock had a trading volume of 3,288,689 shares. The company’s 50 day moving average is $176.12 and its 200 day moving average is $169.04. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The firm has a market cap of $71.46 billion, a PE ratio of 28.29 and a beta of 0.96.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The firm had revenue of $28.86 billion during the quarter, compared to analyst estimates of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. Costco Wholesale Corporation’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts expect that Costco Wholesale Corporation will post $5.76 EPS for the current fiscal year.
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The firm also recently announced a special dividend, which was paid on Friday, May 26th. Shareholders of record on Wednesday, May 10th were given a dividend of $7.00 per share. This represents a yield of 1.13%. This is an increase from Costco Wholesale Corporation’s previous special dividend of $0.45. The ex-dividend date was Wednesday, May 10th. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.
In other Costco Wholesale Corporation news, insider John D. Mckay sold 3,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $181.60, for a total transaction of $544,800.00. Following the transaction, the insider now directly owns 62,607 shares of the company’s stock, valued at $11,369,431.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James D. Sinegal sold 100,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $166.35, for a total transaction of $16,635,000.00. Following the transaction, the director now directly owns 717,296 shares in the company, valued at $119,322,189.60. The disclosure for this sale can be found here. Insiders have sold 113,000 shares of company stock worth $18,992,900 over the last three months. Company insiders own 0.74% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Aviva PLC boosted its stake in Costco Wholesale Corporation by 5.7% in the fourth quarter. Aviva PLC now owns 319,050 shares of the retailer’s stock worth $51,083,000 after buying an additional 17,313 shares during the period. Glenview Trust Co purchased a new stake in Costco Wholesale Corporation during the fourth quarter worth about $1,114,000. MUFG Americas Holdings Corp boosted its stake in Costco Wholesale Corporation by 7.3% in the fourth quarter. MUFG Americas Holdings Corp now owns 117,085 shares of the retailer’s stock worth $18,747,000 after buying an additional 7,944 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Costco Wholesale Corporation by 16.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,668 shares of the retailer’s stock worth $2,348,000 after buying an additional 2,080 shares during the period. Finally, Schulhoff & Co. Inc. boosted its stake in Costco Wholesale Corporation by 7.7% in the first quarter. Schulhoff & Co. Inc. now owns 1,540 shares of the retailer’s stock worth $258,000 after buying an additional 110 shares during the period. 73.89% of the stock is currently owned by hedge funds and other institutional investors.
About Costco Wholesale Corporation
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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