Costco Wholesale (NASDAQ:COST) Stock Price Expected to Rise, Truist Financial Analyst Says

Costco Wholesale (NASDAQ:COST) had its target price lifted by Truist Financial from $909.00 to $935.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the retailer’s stock.

A number of other research analysts also recently weighed in on the stock. DA Davidson restated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Sanford C. Bernstein began coverage on Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective on the stock. 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 report on Thursday. Morgan Stanley increased their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday. Finally, Robert W. Baird raised their target price on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note 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, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $988.46.

Costco Wholesale Trading Up 0.1 %

Shares of NASDAQ:COST opened at $989.35 on Friday. Costco Wholesale has a 12-month low of $630.30 and a 12-month high of $1,007.80. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market capitalization 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. The firm has a fifty day moving average of $926.84 and a two-hundred day moving average of $885.75.

Costco Wholesale (NASDAQ:COST) last posted 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. 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 during the quarter, compared to the consensus estimate of $79.91 billion. During the same period last year, the business earned $4.86 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Costco Wholesale will post 17.83 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid 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 was Friday, November 1st. Costco Wholesale’s dividend payout ratio is 27.25%.

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the 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 sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,016 shares of company stock worth $9,826,115. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently bought and sold shares of COST. Fermata Advisors LLC increased its position in Costco Wholesale by 0.6% in the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after acquiring an additional 11 shares in the last quarter. Sculati Wealth Management LLC grew its stake in shares of Costco Wholesale by 0.3% during the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after purchasing an additional 11 shares during the last quarter. Perkins Coie Trust Co increased its holdings in shares of Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after purchasing an additional 12 shares in the last quarter. Horizon Wealth Management LLC raised its position in Costco Wholesale by 4.7% in the 3rd quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock worth $237,000 after purchasing an additional 12 shares during the last quarter. Finally, Firethorn Wealth Partners LLC boosted its position in Costco Wholesale by 3.5% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after buying an additional 12 shares during 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.