Costco Wholesale (NASDAQ:COST) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Costco Wholesale (NASDAQ:COST) from a buy rating to a hold rating in a report released on Friday morning.

Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an equal weight rating in a report on Friday. The Goldman Sachs Group increased their target price on Costco Wholesale from $876.00 to $995.00 and gave the company a buy rating in a report on Friday. Loop Capital upped their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the company a buy rating in a research report on Friday. Wells Fargo & Company lifted their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an equal weight rating in a research report on Friday. Finally, Evercore ISI upped their target price on shares of Costco Wholesale from $915.00 to $925.00 and gave the company an outperform rating in a report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of Moderate Buy and a consensus price target of $883.04.

Costco Wholesale Stock Performance

Shares of COST stock opened at $886.52 on Friday. The stock has a market capitalization of $393.03 billion, a PE ratio of 54.93, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $871.45 and its 200 day moving average price is $818.37. Costco Wholesale has a 52-week low of $540.23 and a 52-week high of $923.83.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.86 EPS. As a group, equities research analysts forecast that Costco Wholesale will post 16.02 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the business. Strong Tower Advisory Services lifted its holdings in shares of Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after purchasing an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after acquiring an additional 2,620 shares during the period. Main Street Financial Solutions LLC increased its holdings in shares of Costco Wholesale by 22.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after acquiring an additional 656 shares during the period. Parcion Private Wealth LLC lifted its position in Costco Wholesale by 30.8% in the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Aspiriant LLC increased its position in Costco Wholesale by 6.1% in the 1st quarter. Aspiriant LLC now owns 2,327 shares of the retailer’s stock valued at $1,705,000 after acquiring an additional 134 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.