Royal Bank of Canada restated their outperform rating on shares of Costco Wholesale (NASDAQ:COST) in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $205.00 price objective on the retailer’s stock, down from their previous price objective of $209.00.
Other equities research analysts have also issued research reports about the stock. Oppenheimer reissued a buy rating on shares of Costco Wholesale in a report on Thursday, November 30th. Susquehanna Bancshares boosted their price target on shares of Costco Wholesale from $205.00 to $215.00 and gave the company a positive rating in a report on Friday, December 15th. Barclays reissued a buy rating and issued a $208.00 price target on shares of Costco Wholesale in a report on Tuesday, December 19th. Argus boosted their price target on shares of Costco Wholesale to $200.00 and gave the company a buy rating in a report on Monday, February 12th. Finally, Stifel Nicolaus reissued a buy rating and issued a $200.00 price target (up previously from $185.00) on shares of Costco Wholesale in a report on Friday, December 15th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $190.76.
Shares of Costco Wholesale (NASDAQ:COST) traded up $2.89 during mid-day trading on Thursday, reaching $188.58. 3,273,279 shares of the company were exchanged, compared to its average volume of 2,570,000. The company has a market capitalization of $82,760.00, a price-to-earnings ratio of 28.83, a P/E/G ratio of 3.08 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. Costco Wholesale has a fifty-two week low of $150.00 and a fifty-two week high of $199.88.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 15th. Costco Wholesale’s payout ratio is 30.58%.
In related news, VP Timothy L. Rose sold 17,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $185.33, for a total transaction of $3,150,610.00. Following the transaction, the vice president now owns 34,903 shares in the company, valued at approximately $6,468,572.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $187.23, for a total transaction of $561,690.00. Following the transaction, the director now owns 8,654 shares in the company, valued at approximately $1,620,288.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,185 shares of company stock worth $20,583,577. 0.74% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Beach Investment Management LLC. acquired a new position in Costco Wholesale during the 2nd quarter valued at about $3,569,000. AXA increased its stake in shares of Costco Wholesale by 3.3% in the 2nd quarter. AXA now owns 691,378 shares of the retailer’s stock valued at $110,572,000 after acquiring an additional 22,239 shares during the last quarter. Sand Hill Global Advisors LLC increased its stake in shares of Costco Wholesale by 74.7% in the 2nd quarter. Sand Hill Global Advisors LLC now owns 4,416 shares of the retailer’s stock valued at $706,000 after acquiring an additional 1,888 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its stake in shares of Costco Wholesale by 7.6% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 3,500 shares of the retailer’s stock valued at $552,000 after acquiring an additional 247 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of Costco Wholesale by 6.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 44,746 shares of the retailer’s stock valued at $7,156,000 after acquiring an additional 2,763 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.
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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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