Costco Wholesale (NASDAQ:COST) Price Target Raised to $1,095.00

Costco Wholesale (NASDAQ:COST) had its target price lifted by Loop Capital from $1,005.00 to $1,095.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Other analysts also recently issued reports about the company. Tigress Financial restated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. Melius Research began coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Wells Fargo & Company increased their price target on Costco Wholesale from $850.00 to $950.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Morgan Stanley boosted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $988.46.

Costco Wholesale Trading Up 0.1 %

Shares of COST stock opened at $989.35 on Friday. The stock has a market cap of $438.35 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 6.02 and a beta of 0.82. Costco Wholesale has a 1 year low of $630.30 and a 1 year high of $1,007.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $926.84 and a 200 day simple moving average of $885.75.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 33.19% and a net margin of 2.93%. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the prior year, the firm posted $4.86 EPS. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts predict that Costco Wholesale will post 17.83 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction dated Monday, September 30th. The shares were 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 owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock valued at $9,826,115 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in shares of Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after buying an additional 7,364,453 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after acquiring an additional 1,473,248 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after acquiring an additional 618,383 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Costco Wholesale by 28.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after acquiring an additional 338,780 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of Costco Wholesale by 75,894.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock worth $300,473,000 after acquiring an additional 338,489 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

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.