Costco Wholesale (NASDAQ:COST) Price Target Increased to $900.00 by Analysts at Telsey Advisory Group

Costco Wholesale (NASDAQ:COSTFree Report) had its price target increased by Telsey Advisory Group from $850.00 to $900.00 in a report released on Thursday, Marketbeat.com reports. They currently have an outperform rating on the retailer’s stock. Telsey Advisory Group also issued estimates for Costco Wholesale’s FY2024 earnings at $16.03 EPS.

A number of other research firms have also recently commented on COST. Argus boosted their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Roth Mkm reissued a neutral rating and issued a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. DA Davidson reissued a neutral rating and issued a $680.00 price target on shares of Costco Wholesale in a research note on Thursday, April 11th. BMO Capital Markets reissued an outperform rating and issued a $875.00 price target (up previously from $800.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Finally, TD Cowen boosted their price target on shares of Costco Wholesale from $777.00 to $850.00 and gave the stock a buy rating in a research note on Friday, May 31st. Seven investment 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 company has an average rating of Moderate Buy and a consensus price target of $750.00.

View Our Latest Research Report on Costco Wholesale

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $842.64 on Thursday. The company has a 50 day moving average of $758.00 and a 200 day moving average of $710.60. The stock has a market cap of $373.71 billion, a P/E ratio of 52.21, a P/E/G ratio of 5.48 and a beta of 0.79. Costco Wholesale has a 12 month low of $510.57 and a 12 month high of $849.09. The company has a current ratio of 0.94, a quick ratio of 0.43 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.43 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale will post 15.95 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $1.16 dividend. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio is 28.75%.

Insiders Place Their Bets

In other Costco Wholesale news, 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 transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, 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 transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

A number of hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its position in shares of Costco Wholesale by 1.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock worth $16,302,000 after purchasing an additional 273 shares during the last quarter. Main Street Financial Solutions LLC lifted its stake in shares of Costco Wholesale by 4.7% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after buying an additional 79 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Costco Wholesale by 28.9% during the fourth quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after buying an additional 61,122 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Costco Wholesale by 15.6% during the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after acquiring an additional 2,909 shares in the last quarter. Finally, Zhang Financial LLC raised its holdings in Costco Wholesale by 3.8% in the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Articles

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.