Costco Wholesale Corporation’s (COST) “Buy” Rating Reaffirmed at Robert W. Baird

Robert W. Baird restated their buy rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a report released on Friday.

Several other research firms have also recently commented on COST. Wells Fargo & Company set a $170.00 target price on shares of Costco Wholesale Corporation and gave the company a hold rating in a research note on Thursday, October 5th. Deutsche Bank AG set a $155.00 target price on shares of Costco Wholesale Corporation and gave the company a hold rating in a research note on Friday, October 6th. Citigroup Inc. upped their target price on shares of Costco Wholesale Corporation from $155.00 to $187.00 and gave the company a hold rating in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. set a $185.00 target price on shares of Costco Wholesale Corporation and gave the company a buy rating in a research note on Friday, October 6th. Finally, Morgan Stanley cut shares of Costco Wholesale Corporation from an overweight rating to an equal weight rating and cut their target price for the company from $190.00 to $165.00 in a research note on Friday, October 6th. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Costco Wholesale Corporation presently has an average rating of Buy and a consensus price target of $178.34.

Costco Wholesale Corporation (COST) remained flat at $$170.98 during trading hours on Friday. 2,086,597 shares of the company’s stock were exchanged, compared to its average volume of 3,091,323. The stock has a market capitalization of $74,720.00, a price-to-earnings ratio of 29.46, a PEG ratio of 2.74 and a beta of 0.93. Costco Wholesale Corporation has a 52 week low of $149.52 and a 52 week high of $183.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99.

Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. equities research analysts anticipate that Costco Wholesale Corporation will post 6.45 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.17%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 32.89%.

In other Costco Wholesale Corporation news, insider John D. Mckay sold 8,111 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the transaction, the insider now directly owns 66,751 shares in the company, valued at approximately $11,533,237.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the transaction, the chief financial officer now owns 35,225 shares in the company, valued at $6,021,713.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,842 shares of company stock worth $5,128,658. Corporate insiders own 0.74% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. lifted its position in Costco Wholesale Corporation by 0.3% during the 2nd quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock valued at $168,000 after purchasing an additional 3 shares during the period. Brightworth lifted its position in Costco Wholesale Corporation by 0.3% during the 2nd quarter. Brightworth now owns 1,334 shares of the retailer’s stock valued at $213,000 after purchasing an additional 4 shares during the period. Pioneer Trust Bank N A OR lifted its position in Costco Wholesale Corporation by 0.4% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock valued at $266,000 after purchasing an additional 7 shares during the period. SVA Plumb Wealth Management LLC lifted its position in Costco Wholesale Corporation by 0.3% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock valued at $404,000 after purchasing an additional 7 shares during the period. Finally, Cetera Investment Advisers lifted its position in Costco Wholesale Corporation by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock valued at $223,000 after purchasing an additional 7 shares during the period. Institutional investors own 72.76% of the company’s stock.

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.

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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