Costco Wholesale (NASDAQ:COST) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Costco Wholesale (NASDAQ:COST) in a research note released on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $1,100.00 price objective on the retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI reduced their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Barclays boosted their target price on Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Mizuho began coverage on Costco Wholesale in a research report on Friday, April 11th. They issued a “neutral” rating and a $975.00 price target for the company. Finally, Robert W. Baird lifted their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,034.79.

Costco Wholesale Trading Up 0.4%

Shares of COST stock opened at $986.27 on Thursday. The business’s fifty day moving average price is $1,005.02 and its 200 day moving average price is $981.05. The firm has a market capitalization of $437.39 billion, a PE ratio of 55.94, a P/E/G ratio of 6.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale has a 1-year low of $793.00 and a 1-year high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period in the prior year, the company posted $3.78 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, May 2nd. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s payout ratio is 29.50%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president directly owned 8,210 shares of the company’s stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,496,950. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently made changes to their positions in the business. Miramar Capital LLC grew its stake in shares of Costco Wholesale by 1.9% in the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock valued at $481,000 after buying an additional 10 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after acquiring an additional 10 shares during the period. Peninsula Wealth LLC boosted its holdings in Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock worth $749,000 after acquiring an additional 10 shares during the period. Bosun Asset Management LLC grew its position in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock valued at $583,000 after acquiring an additional 10 shares in the last quarter. Finally, Corps Capital Advisors LLC raised its stake in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

About Costco Wholesale

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.