Vetr upgraded shares of Costco Wholesale Corp. (NASDAQ:COST) from a buy rating to a strong-buy rating in a research report released on Monday morning.
COST has been the subject of several other reports. Zacks Investment Research upgraded Costco Wholesale Corp. from a sell rating to a hold rating in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a buy rating on shares of Costco Wholesale Corp. in a research report on Saturday, July 9th. RBC Capital Markets reiterated an outperform rating and set a $178.00 price target (up from $177.00) on shares of Costco Wholesale Corp. in a research report on Friday, September 30th. Robert W. Baird set a $175.00 price target on Costco Wholesale Corp. and gave the company a buy rating in a research report on Friday, September 23rd. Finally, Argus reiterated a buy rating and set a $175.00 price target on shares of Costco Wholesale Corp. in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale Corp. has an average rating of Buy and an average target price of $172.74.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 150.22 on Monday. The stock has a market capitalization of $65.72 billion, a PE ratio of 28.18 and a beta of 0.71. Costco Wholesale Corp. has a one year low of $138.57 and a one year high of $169.73. The stock’s 50 day moving average price is $153.52 and its 200 day moving average price is $156.10.
Costco Wholesale Corp. (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.04. The company earned $35.73 billion during the quarter. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share. Equities research analysts predict that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.80 annualized dividend and a yield of 1.20%. Costco Wholesale Corp.’s dividend payout ratio (DPR) is 33.71%.
In other Costco Wholesale Corp. news, Director James D. Sinegal sold 20,114 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $149.02, for a total transaction of $2,997,388.28. Following the sale, the director now owns 768,136 shares in the company, valued at approximately $114,467,626.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Meisenbach sold 5,737 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now owns 4,652 shares in the company, valued at approximately $780,326.48. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
A number of large investors have recently modified their holdings of COST. Wellington Management Group LLP increased its stake in shares of Costco Wholesale Corp. by 39.9% in the first quarter. Wellington Management Group LLP now owns 14,278,020 shares of the retailer’s stock valued at $2,249,930,000 after buying an additional 4,074,799 shares during the period. Janus Capital Management LLC boosted its position in Costco Wholesale Corp. by 56.8% in the second quarter. Janus Capital Management LLC now owns 4,464,121 shares of the retailer’s stock valued at $701,046,000 after buying an additional 1,616,299 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Costco Wholesale Corp. by 72.5% in the second quarter. 1832 Asset Management L.P. now owns 1,834,509 shares of the retailer’s stock valued at $289,953,000 after buying an additional 771,240 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Costco Wholesale Corp. by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 5,461,235 shares of the retailer’s stock valued at $857,632,000 after buying an additional 743,180 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Costco Wholesale Corp. during the second quarter valued at about $114,769,000. Institutional investors own 73.11% of the company’s stock.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
To view Vetr’s full report, visit Vetr’s official website.
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