Costco Wholesale (COST) Downgraded by Wells Fargo & Co to Market Perform

Wells Fargo & Co cut shares of Costco Wholesale (NASDAQ:COST) from an outperform rating to a market perform rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have $235.00 price target on the retailer’s stock.

A number of other analysts have also issued reports on COST. Royal Bank of Canada boosted their target price on Costco Wholesale to $213.00 and gave the company an outperform rating in a research report on Tuesday, May 29th. Argus boosted their target price on Costco Wholesale from $200.00 to $220.00 and gave the company a buy rating in a research report on Wednesday, May 30th. Telsey Advisory Group boosted their target price on Costco Wholesale from $210.00 to $220.00 and gave the company an outperform rating in a research report on Friday, June 1st. Citigroup boosted their target price on Costco Wholesale from $217.00 to $222.00 and gave the company a buy rating in a research report on Friday, June 1st. Finally, JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $206.00 to $212.00 and gave the company an overweight rating in a research report on Friday, June 1st. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Costco Wholesale presently has an average rating of Buy and a consensus target price of $225.33.

Shares of NASDAQ COST opened at $232.00 on Friday. The company has a market capitalization of $106.32 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 2.87 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. Costco Wholesale has a 52-week low of $154.11 and a 52-week high of $245.16.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, August 30th. Costco Wholesale’s dividend payout ratio is currently 39.18%.

In other news, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the sale, the vice president now owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $218.65, for a total value of $655,950.00. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $5,268,930 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.

A number of large investors have recently bought and sold shares of COST. MUFG Securities EMEA plc purchased a new position in Costco Wholesale in the second quarter valued at $103,000. Well Done LLC purchased a new position in Costco Wholesale in the first quarter valued at $109,000. Trilogy Capital Inc. purchased a new position in Costco Wholesale in the first quarter valued at $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Costco Wholesale in the second quarter valued at $119,000. Finally, Zions Bancorporation purchased a new position in Costco Wholesale in the second quarter valued at $160,000. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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