Costco Wholesale (NASDAQ:COST) Given New $890.00 Price Target at Evercore ISI

Costco Wholesale (NASDAQ:COST) had its price objective raised by Evercore ISI from $860.00 to $890.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the retailer’s stock.

Other analysts have also issued research reports about the stock. Tigress Financial lifted their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a buy rating in a research report on Friday, March 15th. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $750.00 to $775.00 and gave the company an equal weight rating in a research report on Friday, May 31st. DA Davidson reaffirmed a neutral rating and set a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Gordon Haskett lowered Costco Wholesale from a buy rating to an accumulate rating and set a $775.00 target price on the stock. in a research report on Wednesday, April 3rd. Finally, TD Cowen boosted their target price on Costco Wholesale from $777.00 to $850.00 and gave the company a buy rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $752.96.

Costco Wholesale Trading Down 1.0 %

Shares of Costco Wholesale stock opened at $862.44 on Thursday. The stock has a market cap of $382.35 billion, a P/E ratio of 53.43, a P/E/G ratio of 5.76 and a beta of 0.79. The stock’s 50 day simple moving average is $785.79 and its 200-day simple moving average is $729.10. Costco Wholesale has a 1-year low of $516.54 and a 1-year high of $873.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.43 EPS. Analysts predict that Costco Wholesale will post 15.96 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a dividend of $1.16 per share. The ex-dividend date was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’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 completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Large investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its stake in Costco Wholesale by 1.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after acquiring an additional 273 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Costco Wholesale by 4.7% during the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after buying an additional 79 shares during the period. Cerity Partners LLC boosted its stake in shares of Costco Wholesale by 28.9% during the fourth quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock worth $179,822,000 after buying an additional 61,122 shares during the period. Metis Global Partners LLC boosted its stake in shares of Costco Wholesale by 15.6% during the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock worth $14,201,000 after buying an additional 2,909 shares during the period. Finally, Zhang Financial LLC boosted its stake in shares of Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds 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.