Loop Capital assumed coverage on shares of Costco (NASDAQ:COST) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $224.00 target price on the retailer’s stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Costco from a strong-buy rating to a buy rating in a report on Friday, March 9th. Argus raised their target price on Costco to $200.00 and gave the company a buy rating in a report on Monday, February 12th. Vetr raised Costco from a hold rating to a buy rating and set a $200.28 target price for the company in a report on Monday, February 5th. BMO Capital Markets set a $223.00 target price on Costco and gave the company a buy rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $205.00 target price (down previously from $209.00) on shares of Costco in a report on Thursday, March 8th. Eight equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $193.37.
Costco opened at $198.96 on Wednesday, Marketbeat.com reports. Costco has a one year low of $150.00 and a one year high of $201.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.44. The firm has a market capitalization of $87.59 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.
Costco (NASDAQ:COST) last released its earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). Costco had a net margin of 2.18% and a return on equity of 24.74%. The business had revenue of $33 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same period last year, the business posted $1.17 EPS. Costco’s revenue was up 10.8% compared to the same quarter last year. analysts predict that Costco will post 6.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 10th. This is a boost from Costco’s previous quarterly dividend of $0.50. Costco’s dividend payout ratio (DPR) is currently 39.18%.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $196.49, for a total transaction of $589,470.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at approximately $1,700,424.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of Costco stock in a transaction dated 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 owns 34,903 shares of the company’s stock, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,067 shares of company stock valued at $11,700,142. 0.74% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Rational Advisors LLC grew its holdings in Costco by 62.5% in the 1st quarter. Rational Advisors LLC now owns 3,620 shares of the retailer’s stock valued at $682,000 after buying an additional 1,392 shares during the period. CIBC World Markets Inc. grew its holdings in Costco by 48.1% in the 1st quarter. CIBC World Markets Inc. now owns 141,951 shares of the retailer’s stock valued at $26,748,000 after buying an additional 46,088 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Costco by 5.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 80,021 shares of the retailer’s stock valued at $15,078,000 after buying an additional 4,024 shares during the period. McKinley Carter Wealth Services Inc. grew its holdings in Costco by 4.5% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 15,322 shares of the retailer’s stock valued at $2,887,000 after buying an additional 666 shares during the period. Finally, Nvwm LLC grew its holdings in Costco by 1,346.7% in the 1st quarter. Nvwm LLC now owns 3,067 shares of the retailer’s stock valued at $561,000 after buying an additional 2,855 shares during the period. Hedge funds and other institutional investors own 72.99% of the company’s stock.
Costco Company Profile
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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