The Costco Wholesale Co. (COST) Downgraded by Vetr Inc. to Hold, Report finds

The Costco Wholesale Co. (COST) Downgraded by Vetr Inc. to Hold, Report finds

Several other equities analysts also recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Costco Wholesale in a research note on Monday. They issued a “market perform” rating and a $170.00 target price for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $175.00 price objective on shares of Costco Wholesale in a research note on Sunday. Robert W. Baird reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Costco Wholesale in a research note on Thursday, February 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale in a research note on Thursday, February 2nd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research note on Monday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $174.08.

Costco Wholesale Co. (NASDAQ:COST) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Thursday. They presently have a $177.50 price objective on the retailer’s stock. Vetr‘s target price indicates a potential upside of 3.83% from the company’s previous close.

Shares of Costco Wholesale (NASDAQ:COST) traded up 1.51% during trading on Thursday, reaching $170.96. 2,606,898 shares of the company traded hands. The stock has a market capitalization of $75.09 billion, a PE ratio of 31.20 and a beta of 0.89. The firm’s 50-day moving average is $163.46 and its 200-day moving average is $157.68. Costco Wholesale has a 12-month low of $138.57 and a 12-month high of $171.42.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Wednesday, December 7th. The retailer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The firm earned $28.10 billion during the quarter, compared to the consensus estimate of $28.30 billion. Costco Wholesale had a net margin of 2.02% and a return on equity of 20.06%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities analysts predict that Costco Wholesale will post $5.90 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, February 8th. Costco Wholesale’s payout ratio is 32.79%.

In other Costco Wholesale news, VP Richard A. Galanti sold 3,111 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $148.89, for a total transaction of $463,196.79. Following the transaction, the vice president now owns 33,539 shares in the company, valued at approximately $4,993,621.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John D. Mckay sold 4,948 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $168.25, for a total transaction of $832,501.00. Following the transaction, the insider now owns 64,532 shares in the company, valued at approximately $10,857,509. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,403 shares of company stock worth $8,094,973. 0.74% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Norinchukin Bank The boosted its position in Costco Wholesale by 0.9% in the third quarter. Norinchukin Bank The now owns 45,564 shares of the retailer’s stock valued at $6,949,000 after buying an additional 411 shares in the last quarter. Chesley Taft & Associates LLC boosted its position in Costco Wholesale by 2.6% in the third quarter. Chesley Taft & Associates LLC now owns 88,686 shares of the retailer’s stock valued at $13,526,000 after buying an additional 2,214 shares in the last quarter. Hosking Partners LLP boosted its position in Costco Wholesale by 13.9% in the third quarter. Hosking Partners LLP now owns 520,001 shares of the retailer’s stock valued at $79,305,000 after buying an additional 63,639 shares in the last quarter. Teachers Advisors LLC boosted its position in Costco Wholesale by 12.1% in the third quarter. Teachers Advisors LLC now owns 672,838 shares of the retailer’s stock valued at $102,615,000 after buying an additional 72,678 shares in the last quarter. Finally, Evercore Wealth Management LLC boosted its position in Costco Wholesale by 0.6% in the second quarter. Evercore Wealth Management LLC now owns 149,738 shares of the retailer’s stock valued at $23,515,000 after buying an additional 826 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.

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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