Costco Wholesale Corporation (COST) is Upgraded by Northcoast to Buy

Costco Wholesale Corporation (COST) was Upgraded by Northcoast to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Northcoast advised their investors in a research report released on Oct 19, 2016.

Many Wall Street Analysts have commented on Costco Wholesale Corporation. Costco Wholesale Corporation was Initiated by Wells Fargo to “Market Perform” on Oct 18, 2016. Company shares were Reiterated by RBC Capital Mkts on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 178 from a previous price target of $177 .

On the company’s financial health, Costco Wholesale Corporation reported $1.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Sep 29, 2016. Analyst had a consensus of $1.73. The company had revenue of $36560.00 million for the quarter, compared to analysts expectations of $36903.67 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS.

Costco Wholesale Corporation closed down -0.07 points or -0.05% at $150.15 with 17,45,010 shares getting traded on Friday. Post opening the session at $150.18, the shares hit an intraday low of $149.28 and an intraday high of $151 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Oct 12, 2016, Costco Wholesale Corporation announced a cash dividend of $0.4500. The company’s management has announced Nov 2, 2016 as the ex-dividend date and fixed the record date on Nov 4, 2016. The payable date has been fixed on Nov 18, 2016.

In a different news, on Oct 14, 2016, Timothy L. Rose (Executive VP) sold 4,000 shares at $151.12 per share price. According to the SEC, on Oct 11, 2016, James D Sinegal (director) sold 20,114 shares at $149.02 per share price. On Aug 18, 2016, John W Meisenbach (director) sold 5,737 shares at $167.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico Canada United Kingdom (U.K.) Mexico Japan Australia Spain and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144000 square feet. The Company’s warehouses generally operate on a seven-day 69-hour week. The Company’s product categories include Food Sundries Hardlines Fresh Food Softlines Ancillary and Other. The Company’s online business provides products which include services such as photo processing pharmacy travel business delivery and membership services.

Costco Wholesale Corporation

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