Costco Wholesale (NASDAQ:COST) Price Target Raised to $873.00

Costco Wholesale (NASDAQ:COSTFree Report) had its price target upped by Truist Financial from $815.00 to $873.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Several other brokerages also recently issued reports on COST. Evercore ISI raised their price target on Costco Wholesale from $810.00 to $820.00 and gave the company an outperform rating in a research report on Tuesday, May 14th. Loop Capital dropped their price target on Costco Wholesale from $830.00 to $820.00 and set a buy rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company increased their price objective on Costco Wholesale from $610.00 to $675.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Tigress Financial boosted their target price on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a buy rating in a research report on Friday, March 15th. Finally, DA Davidson reiterated a neutral rating and set a $680.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of Moderate Buy and an average target price of $743.52.

Check Out Our Latest Research Report on COST

Costco Wholesale Stock Down 0.7 %

Shares of COST stock opened at $809.89 on Friday. Costco Wholesale has a twelve month low of $501.59 and a twelve month high of $819.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The stock’s 50 day simple moving average is $750.13 and its 200 day simple moving average is $705.36. The company has a market capitalization of $359.19 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 5.38 and a beta of 0.79.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 29.33%. The business had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. During the same period in the previous year, the company earned $3.43 earnings per share. Costco Wholesale’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts predict that Costco Wholesale will post 15.88 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a $1.16 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. This represents a $4.64 annualized dividend and a yield of 0.57%. Costco Wholesale’s payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 785 shares of the business’s 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 sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Claudine Adamo sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, 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.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of COST. Richelieu Gestion SA bought a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC grew its stake in shares of Costco Wholesale by 200.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. Institutional investors own 68.48% of the company’s stock.

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.

See Also

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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