Costco Wholesale (COST) Downgraded by Vetr to “Sell”
Vetr lowered shares of Costco Wholesale (NASDAQ:COST) from a hold rating to a sell rating in a research report released on Friday morning. Vetr currently has $175.44 target price on the retailer’s stock.
COST has been the topic of several other research reports. Robert W. Baird reiterated a buy rating and set a $200.00 price objective on shares of Costco Wholesale in a research report on Thursday, August 31st. Stifel Nicolaus reiterated a buy rating and set a $173.00 price objective on shares of Costco Wholesale in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of Costco Wholesale from a hold rating to a buy rating and set a $180.00 price target on the stock in a research report on Tuesday, September 19th. Bank of America restated a buy rating and issued a $192.00 price target on shares of Costco Wholesale in a research report on Monday, October 9th. Finally, Guggenheim restated a hold rating on shares of Costco Wholesale in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the company’s stock. Costco Wholesale has an average rating of Buy and an average target price of $179.50.
Shares of Costco Wholesale (NASDAQ:COST) opened at $189.56 on Friday. The stock has a market cap of $82,840.00, a P/E ratio of 31.81, a PEG ratio of 2.95 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale has a 1 year low of $150.00 and a 1 year high of $189.88.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. Costco Wholesale had a net margin of 2.08% and a return on equity of 22.21%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. sell-side analysts expect that Costco Wholesale will post 6.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s payout ratio is 32.89%.
In other news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $161.97, for a total transaction of $161,970.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $1,401,688.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard A. Galanti sold 5,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $160.58, for a total transaction of $802,900.00. Following the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at $6,647,369.68. The disclosure for this sale can be found here. Insiders have sold 32,842 shares of company stock valued at $5,520,848 over the last ninety days. 0.74% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Delta Asset Management LLC TN raised its holdings in shares of Costco Wholesale by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Costco Wholesale in the second quarter valued at about $101,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Costco Wholesale in the third quarter valued at about $102,000. Jacobus Wealth Management Inc. bought a new stake in shares of Costco Wholesale in the third quarter valued at about $103,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Costco Wholesale in the second quarter valued at about $107,000. 71.49% of the stock is owned by hedge funds and other institutional investors.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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