Costco Wholesale (NASDAQ:COST) Lowered to Buy at BidaskClub

BidaskClub lowered shares of Costco Wholesale (NASDAQ:COST) from a strong-buy rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Oppenheimer lowered shares of Costco Wholesale from an outperform rating to a market perform rating and increased their price target for the stock from $295.00 to $300.00 in a report on Wednesday. Loop Capital increased their price target on shares of Costco Wholesale to $330.00 and gave the stock a buy rating in a report on Friday, September 6th. Deutsche Bank set a $252.00 price target on shares of Costco Wholesale and gave the stock a hold rating in a report on Monday, July 15th. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $289.00 to $310.00 and gave the stock a buy rating in a report on Friday, September 6th. Finally, Royal Bank of Canada set a $321.00 price target on shares of Costco Wholesale and gave the stock a buy rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Costco Wholesale has a consensus rating of Buy and an average price target of $283.72.

Shares of NASDAQ:COST traded up $2.01 during trading on Thursday, reaching $291.90. The company had a trading volume of 1,422,316 shares, compared to its average volume of 1,965,112. The company has a fifty day moving average of $281.96 and a two-hundred day moving average of $256.87. The stock has a market capitalization of $130.62 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Costco Wholesale has a 12 month low of $189.51 and a 12 month high of $307.34. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s dividend payout ratio (DPR) is presently 38.07%.

In other Costco Wholesale news, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the completion of the sale, the vice president now directly owns 45,100 shares in the company, valued at approximately $11,989,835. The disclosure for this sale can be found here. In the last three months, insiders sold 18,346 shares of company stock worth $4,888,035. Insiders own 0.21% of the company’s stock.

A number of institutional investors have recently made changes to their positions in COST. Krane Funds Advisors LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at about $26,000. Massey Quick Simon & CO. LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at about $27,000. Thor Advisors LLC purchased a new position in Costco Wholesale during the 1st quarter valued at about $35,000. Princeton Global Asset Management LLC lifted its position in Costco Wholesale by 88.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock valued at $35,000 after acquiring an additional 62 shares during the period. Finally, JNBA Financial Advisors lifted its position in Costco Wholesale by 484.6% during the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after acquiring an additional 126 shares during the period. 71.14% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Dividend Reinvestment Plan (DRIP)

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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