Costco Wholesale (NASDAQ:COST) Price Target Raised to $1,030.00

Costco Wholesale (NASDAQ:COST) had its price objective hoisted by Raymond James from $990.00 to $1,030.00 in a research report report published on Thursday morning. They currently have an overweight rating on the retailer’s stock.

Other research analysts have also recently issued reports about the stock. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Morgan Stanley raised their target price on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus increased their price target on Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Robert W. Baird lifted their price objective on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $988.46.

Costco Wholesale Trading Up 0.1 %

NASDAQ:COST opened at $989.35 on Thursday. The business’s 50-day moving average is $926.84 and its two-hundred day moving average is $885.20. The firm has a market capitalization of $438.36 billion, a PE ratio of 58.09, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. Costco Wholesale has a 12 month low of $630.30 and a 12 month high of $1,007.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $4.86 EPS. Research analysts predict that Costco Wholesale will post 17.77 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,016 shares of company stock worth $9,826,115. Insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ERn Financial LLC boosted its stake in Costco Wholesale by 2.6% during the 2nd quarter. ERn Financial LLC now owns 2,088 shares of the retailer’s stock valued at $1,775,000 after purchasing an additional 52 shares in the last quarter. Portside Wealth Group LLC raised its position in Costco Wholesale by 5.6% in the second quarter. Portside Wealth Group LLC now owns 1,221 shares of the retailer’s stock worth $1,038,000 after acquiring an additional 65 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in Costco Wholesale in the 2nd quarter valued at about $233,000. Chaney Capital Management Inc. boosted its position in shares of Costco Wholesale by 5.1% during the 2nd quarter. Chaney Capital Management Inc. now owns 995 shares of the retailer’s stock valued at $846,000 after purchasing an additional 48 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its stake in shares of Costco Wholesale by 20.3% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 1,618 shares of the retailer’s stock worth $1,376,000 after purchasing an additional 273 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Company Profile

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.