Costco Wholesale (NASDAQ:COST) Price Target Raised to $585.00 at Evercore ISI

Costco Wholesale (NASDAQ:COSTGet Rating) had its price objective hoisted by Evercore ISI to $585.00 in a research report report published on Tuesday morning, Stock Target Advisor reports.

Other research analysts also recently issued reports about the company. StockNews.com raised Costco Wholesale from a hold rating to a buy rating in a report on Friday, July 15th. Jefferies Financial Group reaffirmed a buy rating and set a $580.00 price target on shares of Costco Wholesale in a report on Friday, July 29th. Truist Financial increased their target price on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. BMO Capital Markets reissued a buy rating and issued a $580.00 target price on shares of Costco Wholesale in a report on Monday, May 30th. Finally, Loop Capital reduced their price target on Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $575.28.

Costco Wholesale Trading Down 0.0 %

Costco Wholesale stock opened at $518.90 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $521.09 and its two-hundred day simple moving average is $519.97. Costco Wholesale has a 12 month low of $406.51 and a 12 month high of $612.27. The company has a market capitalization of $229.85 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 3.91 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s payout ratio is currently 28.35%.

Insider Activity

In related news, Director Kenneth D. Denman sold 300 shares of Costco Wholesale stock in a transaction on Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the transaction, the director now owns 5,197 shares in the company, valued at approximately $2,711,170.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the sale, the director now owns 5,197 shares in the company, valued at approximately $2,711,170.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James P. Murphy sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the vice president now owns 37,730 shares in the company, valued at approximately $17,506,720. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock valued at $2,609,904 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently modified their holdings of COST. Vanguard Group Inc. grew its position in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock worth $21,898,934,000 after purchasing an additional 467,631 shares during the last quarter. BlackRock Inc. grew its position in Costco Wholesale by 0.8% in the 1st quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock worth $18,047,310,000 after purchasing an additional 261,972 shares during the last quarter. State Street Corp grew its position in Costco Wholesale by 4.0% in the 1st quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock worth $10,963,995,000 after purchasing an additional 738,447 shares during the last quarter. Geode Capital Management LLC grew its position in Costco Wholesale by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock worth $4,173,133,000 after purchasing an additional 246,857 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Costco Wholesale by 2.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock worth $2,898,794,000 after purchasing an additional 133,943 shares during the last quarter. Institutional investors own 66.83% of the company’s stock.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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