Costco Wholesale (NASDAQ:COST) PT Raised to $925.00

Costco Wholesale (NASDAQ:COST) had its price objective hoisted by TD Cowen from $850.00 to $925.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the retailer’s stock.

COST has been the subject of a number of other research reports. Evercore ISI lifted their target price on Costco Wholesale from $890.00 to $920.00 and gave the company an outperform rating in a report on Thursday. Wells Fargo & Company lifted their price target on Costco Wholesale from $775.00 to $800.00 and gave the company an equal weight rating in a research report on Thursday. StockNews.com upgraded Costco Wholesale from a hold rating to a buy rating in a research report on Sunday, June 2nd. Roth Mkm reiterated a neutral rating and set a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, DA Davidson reiterated a neutral rating and set a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $799.33.

Costco Wholesale Stock Down 0.4 %

COST stock opened at $842.90 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $373.68 billion, a PE ratio of 52.22, a PEG ratio of 5.67 and a beta of 0.78. Costco Wholesale has a twelve month low of $530.56 and a twelve month high of $896.67. The stock has a 50-day simple moving average of $829.88 and a two-hundred day simple moving average of $754.71.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.43 EPS. On average, equities analysts predict that Costco Wholesale will post 15.97 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be paid a $1.16 dividend. The ex-dividend date is Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) 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 that occurred on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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. Richelieu Gestion SA purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the first quarter worth $32,000. Morton Brown Family Wealth LLC grew its stake in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale in the fourth quarter worth $30,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.