Costco Wholesale (NASDAQ:COST) Given New $820.00 Price Target at Evercore ISI

Costco Wholesale (NASDAQ:COSTFree Report) had its price objective upped by Evercore ISI from $810.00 to $820.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the retailer’s stock.

A number of other equities analysts also recently weighed in on COST. Telsey Advisory Group reaffirmed an outperform rating and set a $800.00 price target on shares of Costco Wholesale in a research report on Monday, May 6th. Roth Mkm raised their target price on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Oppenheimer lifted their price target on shares of Costco Wholesale from $760.00 to $805.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. Loop Capital reduced their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a buy rating for the company in a research note on Thursday, April 11th. Finally, Citigroup lifted their target price on Costco Wholesale from $630.00 to $710.00 and gave the company a neutral rating in a research report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $695.08.

View Our Latest Research Report on COST

Costco Wholesale Stock Up 0.4 %

Costco Wholesale stock opened at $777.90 on Tuesday. Costco Wholesale has a twelve month low of $476.75 and a twelve month high of $789.48. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $733.30 and a 200-day moving average of $682.32. The stock has a market capitalization of $345.00 billion, a PE ratio of 50.88, a price-to-earnings-growth ratio of 5.16 and a beta of 0.77.

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, topping analysts’ consensus estimates of $3.62 by $0.09. The firm had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 EPS. On average, equities research analysts anticipate that Costco Wholesale will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 30.35%.

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Large investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. lifted its stake in Costco Wholesale by 1.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after purchasing an additional 273 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Costco Wholesale by 28.9% in the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after acquiring an additional 61,122 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Costco Wholesale by 15.6% during the 4th quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after acquiring an additional 2,909 shares in the last quarter. Rice Partnership LLC grew its position in Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock worth $6,633,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Rappaport Reiches Capital Management LLC increased its holdings in Costco Wholesale by 23.5% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock worth $538,000 after purchasing an additional 155 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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