BMO Capital Markets Reiterates Outperform Rating for Costco Wholesale Corporation (NASDAQ:COST)

BMO Capital Markets reiterated their outperform rating on shares of Costco Wholesale Corporation (NASDAQ:COST) in a research note released on Thursday, July 6th. The brokerage currently has a $185.00 target price on the retailer’s stock.

Other equities research analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. set a $185.00 price objective on Costco Wholesale Corporation and gave the stock a buy rating in a report on Saturday, April 1st. Wells Fargo & Company restated a hold rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG upgraded Costco Wholesale Corporation from a market perform rating to an outperform rating in a report on Monday, June 26th. Barclays PLC reiterated an overweight rating and issued a $190.00 price target (up from $185.00) on shares of Costco Wholesale Corporation in a report on Sunday, May 28th. Finally, Morgan Stanley boosted their price target on Costco Wholesale Corporation from $180.00 to $190.00 and gave the company an overweight rating in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $179.11.

Shares of Costco Wholesale Corporation (COST) traded down 0.93% during trading on Thursday, reaching $156.44. The company had a trading volume of 3,117,944 shares. The company has a market capitalization of $68.61 billion, a P/E ratio of 27.16 and a beta of 0.93. The firm has a 50-day moving average price of $158.29 and a 200-day moving average price of $168.02. Costco Wholesale Corporation has a 52-week low of $142.11 and a 52-week high of $183.18. Costco Wholesale Corporation also saw unusually large options trading on Thursday. Traders purchased 6,031 put options on the stock. This represents an increase of 231% compared to the average volume of 1,822 put options.

Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The company had revenue of $28.86 billion for the quarter, compared to the consensus estimate of $28.57 billion. During the same period in the previous year, the business earned $1.24 EPS. Costco Wholesale Corporation’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.50 dividend. This is a positive change from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Costco Wholesale Corporation’s dividend payout ratio is 34.66%.

In other news, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total transaction of $160,280.00. Following the sale, the director now directly owns 5,974 shares of the company’s stock, valued at $957,512.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John D. Mckay sold 3,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $181.60, for a total value of $544,800.00. Following the sale, the insider now directly owns 62,607 shares in the company, valued at $11,369,431.20. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $2,677,430 over the last ninety days. 0.74% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Brightworth raised its stake in shares of Costco Wholesale Corporation by 0.3% in the second quarter. Brightworth now owns 1,334 shares of the retailer’s stock worth $213,000 after buying an additional 4 shares during the period. Pioneer Trust Bank N A OR raised its stake in shares of Costco Wholesale Corporation by 0.4% in the second quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock worth $266,000 after buying an additional 7 shares during the period. Marshall & Sullivan Inc. WA raised its stake in shares of Costco Wholesale Corporation by 0.6% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,590 shares of the retailer’s stock worth $272,000 after buying an additional 10 shares during the period. CHICAGO TRUST Co NA raised its position in Costco Wholesale Corporation by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,515 shares of the retailer’s stock valued at $402,000 after buying an additional 12 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in Costco Wholesale Corporation by 1.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 985 shares of the retailer’s stock valued at $158,000 after buying an additional 13 shares during the last quarter. 74.11% of the stock is currently owned by institutional investors.

About Costco Wholesale Corporation

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.

Analyst Recommendations for Costco Wholesale Corporation (NASDAQ:COST)

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