Credit Suisse Group began coverage on shares of Costco Wholesale (NASDAQ:COST) in a report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $328.00 price target on the retailer’s stock.
A number of other research firms have also recently commented on COST. BMO Capital Markets restated a buy rating and issued a $320.00 price objective on shares of Costco Wholesale in a research report on Friday, December 13th. BidaskClub upgraded shares of Costco Wholesale from a sell rating to a hold rating in a research report on Friday, January 10th. Oppenheimer upgraded shares of Costco Wholesale from a market perform rating to an outperform rating and upped their price objective for the company from $300.00 to $335.00 in a research report on Tuesday, January 21st. They noted that the move was a valuation call. Robert W. Baird restated a buy rating and issued a $325.00 price objective on shares of Costco Wholesale in a research report on Wednesday, February 5th. Finally, Wells Fargo & Co upped their price objective on shares of Costco Wholesale from $290.00 to $300.00 and gave the company an equal weight rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company. Costco Wholesale currently has a consensus rating of Hold and a consensus target price of $303.83.
Shares of COST stock traded up $0.11 during trading hours on Thursday, reaching $318.31. The company had a trading volume of 1,113,450 shares, compared to its average volume of 2,003,878. The company has a 50 day moving average of $303.41 and a 200 day moving average of $294.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.01 and a quick ratio of 0.49. The firm has a market cap of $138.62 billion, a price-to-earnings ratio of 37.76, a P/E/G ratio of 4.50 and a beta of 0.90. Costco Wholesale has a 1-year low of $214.04 and a 1-year high of $319.81.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 12th. The retailer reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. The company had revenue of $37.04 billion for the quarter, compared to the consensus estimate of $37.40 billion. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. As a group, sell-side analysts forecast that Costco Wholesale will post 8.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, February 6th. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.75%.
In other Costco Wholesale news, Director Susan L. Decker sold 3,850 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $300.41, for a total transaction of $1,156,578.50. Following the completion of the transaction, the director now owns 34,582 shares in the company, valued at approximately $10,388,778.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $293.99, for a total value of $587,980.00. Following the transaction, the vice president now owns 59,679 shares of the company’s stock, valued at approximately $17,545,029.21. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in COST. Point72 Asset Management L.P. acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $2,632,000. Northstar Wealth Partners LLC boosted its stake in shares of Costco Wholesale by 1.5% during the 4th quarter. Northstar Wealth Partners LLC now owns 5,497 shares of the retailer’s stock worth $1,615,000 after buying an additional 82 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Costco Wholesale by 199.0% during the 4th quarter. Captrust Financial Advisors now owns 55,950 shares of the retailer’s stock worth $16,309,000 after buying an additional 37,235 shares during the last quarter. Bluefin Trading LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $3,440,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $1,011,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.
About Costco Wholesale
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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