Costco Wholesale’s (COST) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Costco Wholesale (NASDAQ:COST) in a research report sent to investors on Thursday morning,MarketScreener reports.

A number of other analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday. Sanford C. Bernstein increased their price target on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Citigroup dropped their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,066.23.

Costco Wholesale Stock Down 1.4%

COST stock opened at $930.01 on Thursday. The company’s 50 day moving average price is $952.05 and its 200 day moving average price is $971.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The firm has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 5.64 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same period in the prior year, the firm earned $5.15 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,981 shares of company stock worth $7,588,685. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bulwark Capital Corp purchased a new position in Costco Wholesale in the 2nd quarter valued at $25,000. Soundwatch Capital LLC grew its position in Costco Wholesale by 635.7% in the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after buying an additional 2,206 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Costco Wholesale in the 2nd quarter valued at $31,000. Anderson Financial Strategies LLC grew its position in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after buying an additional 36 shares during the last quarter. Finally, Financial Connections Group Inc. grew its position in Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after buying an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

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.