Costco Wholesale (NASDAQ:COST) Stock Price Up 0.2% After Analyst Upgrade

Shares of Costco Wholesale Co. (NASDAQ:COST) rose 0.2% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $855.00 to $950.00. Morgan Stanley currently has an overweight rating on the stock. Costco Wholesale traded as high as $900.69 and last traded at $897.92. Approximately 288,897 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,950,206 shares. The stock had previously closed at $896.49.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus upped their price objective on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. TD Cowen increased their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Argus lifted their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Truist Financial upped their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

Insider Activity

In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $32,000. Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $34,000. DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. lifted its holdings in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 0.7 %

The company has a market capitalization of $399.18 billion, a P/E ratio of 55.79, a P/E/G ratio of 5.33 and a beta of 0.80. 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 fifty day simple moving average of $859.92 and a 200-day simple moving average of $803.66.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

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.