Costco Wholesale Corporation (NASDAQ:COST) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Costco Wholesale Corporation (NASDAQ:COST) have been assigned a consensus rating of “Moderate Buy” from the thirty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $1,023.4074.

A number of brokerages have commented on COST. The Goldman Sachs Group increased their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a report on Friday, September 26th. Gordon Haskett dropped their price target on Costco Wholesale from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Morgan Stanley decreased their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. DA Davidson reaffirmed a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday, December 4th. Finally, Truist Financial reduced their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th.

Costco Wholesale Stock Performance

COST opened at $888.44 on Wednesday. The firm’s fifty day simple moving average is $918.35 and its two-hundred day simple moving average is $952.99. Costco Wholesale has a 52-week low of $871.71 and a 52-week high of $1,078.23. The company has a market cap of $394.43 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 6.02 and a beta of 1.00. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

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

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP William Richard Wilcox sold 2,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the transaction, the executive vice president owned 2,000 shares in the company, valued at approximately $1,860,260. This trade represents a 54.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares in the company, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,720 shares of company stock valued at $9,010,257. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several institutional investors have recently made changes to their positions in the company. Bulwark Capital Corp acquired a new position in Costco Wholesale during the second quarter worth $25,000. Soundwatch Capital LLC raised its holdings in shares of 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 period. LFA Lugano Financial Advisors SA acquired a new position in Costco Wholesale during the 2nd quarter worth about $31,000. Hurley Capital LLC boosted its holdings in Costco Wholesale by 120.0% during the 3rd quarter. Hurley Capital LLC now owns 33 shares of the retailer’s stock valued at $31,000 after acquiring an additional 18 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Costco Wholesale in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.