Costco Wholesale (NASDAQ:COST) Price Target Raised to $675.00 at Wells Fargo & Company

Costco Wholesale (NASDAQ:COSTFree Report) had its price target raised by Wells Fargo & Company from $610.00 to $675.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the retailer’s stock.

COST has been the topic of a number of other reports. Evercore ISI boosted their price objective on shares of Costco Wholesale from $640.00 to $650.00 and gave the company an outperform rating in a research report on Tuesday, December 12th. UBS Group upped their target price on shares of Costco Wholesale from $640.00 to $725.00 and gave the stock a buy rating in a research report on Friday, December 15th. Tigress Financial upped their target price on shares of Costco Wholesale from $635.00 to $745.00 and gave the stock a buy rating in a research report on Friday, December 29th. Loop Capital upped their target price on shares of Costco Wholesale from $710.00 to $755.00 in a research report on Friday, January 19th. Finally, Raymond James upped their target price on shares of Costco Wholesale from $580.00 to $670.00 and gave the stock an outperform rating in a research report on Friday, December 15th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $659.96.

Check Out Our Latest Stock Report on COST

Costco Wholesale Trading Up 0.6 %

Shares of COST stock opened at $724.16 on Thursday. The stock has a market capitalization of $321.33 billion, a PE ratio of 49.36, a P/E/G ratio of 5.20 and a beta of 0.77. Costco Wholesale has a 1-year low of $465.33 and a 1-year high of $728.17. The business has a 50-day moving average of $667.20 and a 200 day moving average of $598.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.09 and a quick ratio of 0.60.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, beating 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 company had revenue of $57.80 billion during the quarter, compared to analysts’ expectations of $57.79 billion. During the same period in the prior year, the business posted $3.10 EPS. Costco Wholesale’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale will post 15.6 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be paid 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 dividend payout ratio (DPR) is presently 27.81%.

Insiders Place Their Bets

In other news, Director W Craig Jelinek sold 8,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the sale, the director now owns 216,212 shares in the company, valued at $148,306,297.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director W Craig Jelinek sold 8,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total value of $5,487,440.00. Following the sale, the director now owns 216,212 shares in the company, valued at $148,306,297.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caton Frates sold 740 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total transaction of $505,790.00. Following the completion of the sale, the executive vice president now owns 6,721 shares in the company, valued at approximately $4,593,803.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,752 shares of company stock worth $9,377,669. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several large investors have recently bought and sold shares of COST. Arbor Capital Management Inc. ADV boosted its stake in Costco Wholesale by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 3,210 shares of the retailer’s stock worth $1,730,000 after buying an additional 27 shares during the period. Envestnet Asset Management Inc. boosted its stake in Costco Wholesale by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 530,031 shares of the retailer’s stock worth $285,358,000 after buying an additional 6,049 shares during the period. Keating Investment Counselors Inc. boosted its stake in Costco Wholesale by 43.0% during the third quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock worth $1,493,000 after buying an additional 795 shares during the period. CWM LLC boosted its stake in Costco Wholesale by 21.9% during the second quarter. CWM LLC now owns 27,402 shares of the retailer’s stock worth $14,753,000 after buying an additional 4,915 shares during the period. Finally, Resources Management Corp CT ADV boosted its stake in Costco Wholesale by 1,396.0% during the second quarter. Resources Management Corp CT ADV now owns 14,960 shares of the retailer’s stock worth $8,054,000 after buying an additional 13,960 shares during the period. Institutional investors own 66.31% of the company’s stock.

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

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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