Costco Wholesale (NASDAQ:COST) Price Target Raised to $905.00 at Oppenheimer

Costco Wholesale (NASDAQ:COSTFree Report) had its target price upped by Oppenheimer from $850.00 to $905.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the retailer’s stock.

Several other analysts have also weighed in on the company. Citigroup boosted their price objective on Costco Wholesale from $710.00 to $800.00 and gave the company a neutral rating in a report on Friday, May 31st. DA Davidson restated a neutral rating and set a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price objective on shares of Costco Wholesale from $750.00 to $775.00 and gave the stock an equal weight rating in a report on Friday, May 31st. Gordon Haskett cut shares of Costco Wholesale from a buy rating to an accumulate rating and set a $775.00 target price on the stock. in a report on Wednesday, April 3rd. Finally, Evercore ISI boosted their price objective on shares of Costco Wholesale from $845.00 to $860.00 and gave the company an outperform rating in a research report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $750.00.

Check Out Our Latest Report on Costco Wholesale

Costco Wholesale Stock Performance

NASDAQ:COST opened at $842.64 on Thursday. Costco Wholesale has a 1-year low of $510.57 and a 1-year high of $849.09. The stock has a market cap of $373.71 billion, a P/E ratio of 52.21, a PEG ratio of 5.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.43. The firm has a 50-day moving average of $758.00 and a two-hundred day moving average of $710.60.

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

Costco Wholesale Increases Dividend

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

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 of the company’s stock, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares during the last quarter. Norges Bank purchased a new stake in Costco Wholesale during the fourth quarter valued at about $3,628,694,000. Northern Trust Corp boosted its holdings in shares of Costco Wholesale by 4.3% in the third quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock worth $2,901,040,000 after buying an additional 210,586 shares during the period. Capital World Investors increased its position in shares of Costco Wholesale by 8.1% in the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock worth $2,802,147,000 after acquiring an additional 285,533 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Costco Wholesale by 61,693.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after acquiring an additional 3,100,099 shares during the period. Institutional investors and hedge funds own 68.48% 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.

Read More

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.