Costco Wholesale (NASDAQ:COST) Given New $749.00 Price Target at The Goldman Sachs Group

Costco Wholesale (NASDAQ:COSTFree Report) had its target price raised by The Goldman Sachs Group from $665.00 to $749.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the retailer’s stock.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Costco Wholesale from $615.00 to $675.00 and gave the stock a buy rating in a research note on Friday, December 15th. JPMorgan Chase & Co. reduced their price objective on Costco Wholesale from $620.00 to $605.00 and set an overweight rating on the stock in a research note on Thursday, November 2nd. Truist Financial boosted their price objective on Costco Wholesale from $693.00 to $741.00 and gave the stock a buy rating in a research note on Thursday, December 21st. BMO Capital Markets boosted their price objective on Costco Wholesale from $612.00 to $700.00 and gave the stock an outperform rating in a research note on Friday, December 15th. Finally, StockNews.com upgraded Costco Wholesale from a hold rating to a buy rating in a research report on Saturday, January 13th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $659.96.

Check Out Our Latest Analysis on COST

Costco Wholesale Trading Up 0.6 %

Shares of COST stock opened at $724.16 on Thursday. Costco Wholesale has a 12-month low of $465.33 and a 12-month high of $728.17. The company has a current ratio of 1.09, a quick ratio of 0.60 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $667.20 and its 200-day moving average price is $598.41. The stock has a market capitalization of $321.33 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 5.20 and a beta of 0.77.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The firm had revenue of $57.80 billion for the quarter, compared to analysts’ expectations of $57.79 billion. During the same period in the previous year, the firm posted $3.10 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale will post 15.6 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 2nd will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, February 1st. Costco Wholesale’s payout ratio is 27.81%.

Insider Activity at Costco Wholesale

In related news, Director W Craig Jelinek sold 8,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total value of $5,487,440.00. Following the transaction, the director now directly owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director W Craig Jelinek sold 8,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total value of $5,487,440.00. Following the transaction, the director now directly owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Caton Frates sold 740 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the completion of the transaction, the executive vice president now directly owns 6,721 shares in the company, valued at $4,593,803.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,752 shares of company stock valued at $9,377,669 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently added to or reduced their stakes in the business. Howard Financial Services LTD. boosted its stake in shares of Costco Wholesale by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 870 shares of the retailer’s stock worth $574,000 after acquiring an additional 15 shares in the last quarter. First National Corp MA ADV increased its holdings in shares of Costco Wholesale by 0.5% during the 4th quarter. First National Corp MA ADV now owns 3,098 shares of the retailer’s stock worth $2,045,000 after buying an additional 15 shares during the last quarter. Morton Capital Management LLC CA increased its holdings in shares of Costco Wholesale by 1.0% during the 4th quarter. Morton Capital Management LLC CA now owns 1,564 shares of the retailer’s stock worth $1,032,000 after buying an additional 15 shares during the last quarter. Insight Advisors LLC PA increased its holdings in shares of Costco Wholesale by 0.6% during the 4th quarter. Insight Advisors LLC PA now owns 2,736 shares of the retailer’s stock worth $1,807,000 after buying an additional 15 shares during the last quarter. Finally, Optas LLC increased its holdings in shares of Costco Wholesale by 0.6% during the 4th quarter. Optas LLC now owns 2,383 shares of the retailer’s stock worth $1,573,000 after buying an additional 15 shares during the last quarter. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile

(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.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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