Costco Wholesale (NASDAQ:COST) Hits New 12-Month High After Analyst Upgrade

Shares of Costco Wholesale Co. (NASDAQ:COSTGet Free Report) hit a new 52-week high during mid-day trading on Wednesday after Telsey Advisory Group raised their price target on the stock from $700.00 to $750.00. Telsey Advisory Group currently has an outperform rating on the stock. Costco Wholesale traded as high as $716.96 and last traded at $716.48, with a volume of 122672 shares changing hands. The stock had previously closed at $710.79.

COST has been the topic of a number of other research reports. Tigress Financial increased their price target on Costco Wholesale from $635.00 to $745.00 and gave the company a “buy” rating in a research note on Friday, December 29th. BMO Capital Markets boosted their price target on Costco Wholesale from $612.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. Raymond James increased their price objective on Costco Wholesale from $580.00 to $670.00 and gave the stock an “outperform” rating in a research report on Friday, December 15th. Citigroup boosted their target price on shares of Costco Wholesale from $585.00 to $630.00 and gave the company a “neutral” rating in a research report on Friday, December 15th. Finally, StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $649.57.

Get Our Latest Research Report on COST

Insiders Place Their Bets

In other Costco Wholesale news, Director W Craig Jelinek sold 8,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the sale, the director now owns 216,212 shares in the company, valued at approximately $148,306,297.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, Director W Craig Jelinek sold 8,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total value of $5,487,440.00. Following the transaction, the director now owns 216,212 shares in the company, valued at approximately $148,306,297.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoram Rubanenko sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total value of $1,700,825.00. Following the sale, the vice president now directly owns 5,910 shares of the company’s stock, valued at approximately $4,020,750.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,752 shares of company stock valued at $9,377,669. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC lifted its position in Costco Wholesale by 118,320.2% during 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 acquiring an additional 7,390,278 shares during the period. Norges Bank acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $2,328,844,000. International Assets Investment Management LLC grew its position in Costco Wholesale by 61,693.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after buying an additional 3,100,099 shares during the last quarter. Osaic Holdings Inc. increased its stake in Costco Wholesale by 846.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,535,938 shares of the retailer’s stock valued at $143,580,000 after buying an additional 2,268,107 shares during the period. Finally, Morgan Stanley raised its position in Costco Wholesale by 18.0% during the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after buying an additional 1,315,174 shares during the last quarter. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

The company has a market cap of $319.39 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 5.14 and a beta of 0.77. The company’s 50 day moving average price is $664.57 and its 200 day moving average price is $597.53. The company has a current ratio of 1.09, a quick ratio of 0.60 and a debt-to-equity ratio of 0.22.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The firm had revenue of $57.80 billion for the quarter, compared to analyst estimates of $57.79 billion. During the same quarter in the prior year, the company posted $3.10 earnings per share. Costco Wholesale’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Costco Wholesale Co. will post 15.6 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 2nd will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, February 1st. Costco Wholesale’s dividend payout ratio is presently 27.81%.

Costco Wholesale Company Profile

(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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