Costco Wholesale (NASDAQ:COST) Price Target Raised to $1,175.00

Costco Wholesale (NASDAQ:COST) had its price objective lifted by BMO Capital Markets from $1,075.00 to $1,175.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the retailer’s stock.

Several other equities research analysts have also recently commented on COST. Jefferies Financial Group upped their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. UBS Group boosted their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI lifted their price target on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $988.46.

Costco Wholesale Stock Performance

Shares of COST stock opened at $989.35 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale has a 1 year low of $630.30 and a 1 year high of $1,007.80. The stock’s 50-day moving average is $926.84 and its two-hundred day moving average is $885.75. The firm has a market cap of $438.35 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 6.02 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 33.19%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.86 EPS. Analysts predict that Costco Wholesale will post 17.83 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock worth $9,826,115 over the last ninety days. 0.18% of the stock is owned by insiders.

Institutional Trading of Costco Wholesale

Hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Costco Wholesale in the 3rd quarter valued at approximately $29,000. Financial Connections Group Inc. lifted its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Summit Securities Group LLC bought a new position in Costco Wholesale in the 2nd quarter valued at about $50,000. Fairway Wealth LLC grew its position in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after buying an additional 46 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter worth about $58,000. 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.