Costco Wholesale (NASDAQ:COST) Downgraded by Gordon Haskett

Gordon Haskett cut shares of Costco Wholesale (NASDAQ:COSTFree Report) from a buy rating to an accumulate rating in a research report report published on Wednesday, Marketbeat reports. Gordon Haskett currently has $775.00 price objective on the retailer’s stock.

Other research analysts also recently issued reports about the stock. Oppenheimer lifted their price target on shares of Costco Wholesale from $760.00 to $805.00 and gave the stock an outperform rating in a research note on Tuesday, March 5th. Evercore ISI lifted their price target on shares of Costco Wholesale from $640.00 to $650.00 and gave the stock an outperform rating in a research note on Tuesday, December 12th. BMO Capital Markets lifted their price target on shares of Costco Wholesale from $612.00 to $700.00 and gave the stock an outperform rating in a research note on Friday, December 15th. Tigress Financial lifted their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a buy rating in a research note on Friday, March 15th. Finally, StockNews.com downgraded shares of Costco Wholesale from a buy rating to a hold rating in a research note on Friday, March 8th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of Moderate Buy and an average target price of $672.76.

Read Our Latest Analysis on Costco Wholesale

Costco Wholesale Trading Down 0.8 %

Shares of COST opened at $705.69 on Wednesday. The firm’s 50 day simple moving average is $727.00 and its 200 day simple moving average is $647.84. The company has a market capitalization of $312.97 billion, a P/E ratio of 46.15, a P/E/G ratio of 4.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. Costco Wholesale has a 1-year low of $476.75 and a 1-year high of $787.08.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. The business had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. Costco Wholesale’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $3.30 earnings per share. Sell-side analysts forecast that Costco Wholesale will post 15.81 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 26.68%.

Insider Activity

In other news, insider Daniel M. Hines sold 1,400 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total transaction of $927,220.00. Following the sale, the insider now owns 13,922 shares in the company, valued at approximately $9,220,540.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now owns 6,695 shares in the company, valued at approximately $4,785,786.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 1,400 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $662.30, for a total transaction of $927,220.00. Following the completion of the transaction, the insider now owns 13,922 shares in the company, valued at approximately $9,220,540.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,582 shares of company stock worth $10,736,778. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. State Street Corp boosted its stake in Costco Wholesale by 1.8% in the 2nd quarter. State Street Corp now owns 19,108,655 shares of the retailer’s stock worth $10,287,718,000 after purchasing an additional 333,308 shares in the last quarter. Morgan Stanley boosted its stake in Costco Wholesale by 18.0% in the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after purchasing an additional 1,315,174 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Costco Wholesale by 118,320.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after purchasing an additional 7,390,278 shares in the last quarter. Finally, Norges Bank bought a new position in Costco Wholesale in the 4th quarter worth about $3,628,694,000. Institutional investors own 68.48% of the company’s stock.

About Costco Wholesale

(Get Free Report)

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.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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