Costco Wholesale (NASDAQ:COST) Shares Up 0.8% Following Analyst Upgrade

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) was up 0.8% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $840.00 to $890.00. Loop Capital currently has a buy rating on the stock. Costco Wholesale traded as high as $825.89 and last traded at $821.68. Approximately 465,733 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,984,715 shares. The stock had previously closed at $815.39.

COST has been the subject of a number of other research reports. TD Cowen boosted their price target on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Roth Mkm restated a “neutral” rating and set a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Truist Financial boosted their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Oppenheimer lifted their price target on Costco Wholesale from $805.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $875.00 target price (up previously from $800.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $746.11.

Get Our Latest Analysis on COST

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the transaction, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the completion of the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its holdings in shares of Costco Wholesale by 194.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 13,404 shares of the retailer’s stock valued at $7,573,000 after purchasing an additional 8,845 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in shares of Costco Wholesale by 15.0% in the third quarter. Soltis Investment Advisors LLC now owns 2,725 shares of the retailer’s stock worth $1,539,000 after purchasing an additional 355 shares in the last quarter. Horizon Family Wealth Inc. acquired a new position in Costco Wholesale during the third quarter worth $900,000. Van ECK Associates Corp grew its position in Costco Wholesale by 1.7% in the third quarter. Van ECK Associates Corp now owns 90,922 shares of the retailer’s stock valued at $51,367,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Platform Technology Partners increased its stake in Costco Wholesale by 13.4% in the 3rd quarter. Platform Technology Partners now owns 3,679 shares of the retailer’s stock valued at $2,079,000 after buying an additional 434 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

The company has a market capitalization of $366.95 billion, a price-to-earnings ratio of 51.26, a P/E/G ratio of 5.38 and a beta of 0.79. The stock’s 50 day moving average price is $753.75 and its 200 day moving average price is $708.79. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COSTGet Free Report) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 29.33%. Costco Wholesale’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 EPS. Analysts expect that Costco Wholesale Co. will post 15.88 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.56%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

About Costco Wholesale

(Get Free Report)

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.

Further Reading

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