JPMorgan Chase & Co. Issues Positive Forecast for Costco Wholesale (NASDAQ:COST) Stock Price

Costco Wholesale (NASDAQ:COST) had its target price increased by JPMorgan Chase & Co. from $1,065.00 to $1,070.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the retailer’s stock.

Several other brokerages also recently weighed in on COST. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Citigroup boosted their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Evercore ISI reiterated a “hold” rating on shares of Costco Wholesale in a research report on Friday, February 14th. Finally, Stifel Nicolaus upped their price target on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,029.00.

Costco Wholesale Stock Performance

COST opened at $964.31 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market cap of $428.06 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 6.15 and a beta of 0.82. The company’s 50 day moving average is $989.69 and its 200 day moving average is $942.97. Costco Wholesale has a 12-month low of $697.27 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, equities research analysts predict that Costco Wholesale will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.09%.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently bought and sold shares of the business. Investment Management Corp VA ADV acquired a new position in Costco Wholesale in the 4th quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale in the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the 4th quarter worth approximately $31,000. NewSquare Capital LLC increased its holdings in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale in the 4th quarter worth approximately $33,000. 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.