Costco Wholesale (COST) Upgraded at ValuEngine

ValuEngine upgraded shares of Costco Wholesale (NASDAQ:COST) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Other equities analysts have also issued reports about the stock. Loop Capital started coverage on shares of Costco Wholesale in a report on Wednesday, May 16th. They set a buy rating and a $224.00 target price for the company. BidaskClub lowered shares of Costco Wholesale from a strong-buy rating to a buy rating in a report on Friday, March 9th. Citigroup lifted their target price on shares of Costco Wholesale from $217.00 to $222.00 and gave the company a buy rating in a report on Friday, June 1st. Argus lifted their target price on shares of Costco Wholesale from $200.00 to $220.00 and gave the company a buy rating in a report on Wednesday, May 30th. Finally, Royal Bank of Canada lifted their target price on shares of Costco Wholesale to $213.00 and gave the company an outperform rating in a report on Tuesday, May 29th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Costco Wholesale presently has an average rating of Buy and an average target price of $199.15.

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Costco Wholesale opened at $211.10 on Thursday, Marketbeat.com reports. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The company has a market cap of $92.08 billion, a PE ratio of 32.01, a PEG ratio of 2.79 and a beta of 0.95. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $211.77.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.02. The firm had revenue of $32.36 billion during the quarter, compared to analyst estimates of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. analysts expect that Costco Wholesale will post 6.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 11th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.08%. The ex-dividend date was Thursday, May 10th. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.50. Costco Wholesale’s payout ratio is 39.18%.

In other Costco Wholesale news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $186.91, for a total transaction of $560,730.00. Following the sale, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,617,519.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Russell D. Miller sold 12,393 shares of Costco Wholesale stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $194.12, for a total transaction of $2,405,729.16. Following the sale, the insider now directly owns 1 shares in the company, valued at approximately $194.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,884 shares of company stock worth $7,741,396. 0.74% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Magellan Asset Management Ltd boosted its position in shares of Costco Wholesale by 2.4% during the 4th quarter. Magellan Asset Management Ltd now owns 6,588,695 shares of the retailer’s stock valued at $1,226,288,000 after acquiring an additional 154,320 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,013,862 shares of the retailer’s stock valued at $931,370,000 after acquiring an additional 128,366 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Costco Wholesale by 7.0% during the 1st quarter. Fisher Asset Management LLC now owns 2,488,816 shares of the retailer’s stock valued at $468,968,000 after acquiring an additional 162,335 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Costco Wholesale by 252.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,388,496 shares of the retailer’s stock valued at $444,547,000 after acquiring an additional 1,711,003 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Costco Wholesale by 73.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,100,913 shares of the retailer’s stock valued at $391,022,000 after acquiring an additional 890,200 shares during the last quarter. 71.29% of the stock is currently owned by institutional investors.

Costco Wholesale 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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