BidaskClub downgraded shares of Costco Wholesale (NASDAQ:COST) from a strong-buy rating to a buy rating in a report issued on Friday morning.
Other equities research analysts have also recently issued reports about the company. Oppenheimer reaffirmed a buy rating on shares of Costco Wholesale in a report on Thursday, November 30th. Susquehanna Bancshares raised their price target on Costco Wholesale from $205.00 to $215.00 and gave the company a positive rating in a report on Friday, December 15th. Barclays reaffirmed a buy rating and set a $208.00 price target on shares of Costco Wholesale in a report on Tuesday, December 19th. Argus lifted their target price on Costco Wholesale to $200.00 and gave the company a buy rating in a research note on Monday, February 12th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $205.00 target price (down from $209.00) on shares of Costco Wholesale in a research note on Thursday. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $190.76.
Costco Wholesale (COST) traded up $2.89 during mid-day trading on Friday, reaching $188.58. The company had a trading volume of 3,286,908 shares, compared to its average volume of 2,570,000. Costco Wholesale has a 12-month low of $150.00 and a 12-month high of $199.88. The firm has a market cap of $84,050.00, a PE ratio of 28.83, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.43.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.58%.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $187.23, for a total transaction of $561,690.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,620,288.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of Costco Wholesale stock in a transaction on Friday, March 9th. The stock was sold at an average price of $185.33, for a total value of $3,150,610.00. Following the sale, the vice president now directly owns 34,903 shares of the company’s stock, valued at $6,468,572.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,185 shares of company stock valued at $20,583,577. 0.74% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in COST. Almanack Investment Partners LLC. bought a new position in Costco Wholesale during the second quarter worth about $101,000. Wealthcare Advisory Partners LLC bought a new position in Costco Wholesale during the third quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new position in Costco Wholesale during the third quarter worth about $103,000. Assetmark Inc. lifted its holdings in Costco Wholesale by 137.0% during the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after acquiring an additional 326 shares in the last quarter. Finally, Shamrock Asset Management LLC lifted its holdings in Costco Wholesale by 171.3% during the third quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after acquiring an additional 418 shares in the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.
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About Costco Wholesale
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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