Costco Wholesale (NASDAQ:COST) Stock Price Up 0.6% on Analyst Upgrade

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) rose 0.6% during mid-day trading on Monday after Loop Capital raised their price target on the stock from $890.00 to $940.00. Loop Capital currently has a buy rating on the stock. Costco Wholesale traded as high as $862.77 and last traded at $860.44. Approximately 401,562 shares were traded during trading, a decline of 79% from the average daily volume of 1,958,435 shares. The stock had previously closed at $855.67.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Truist Financial raised their price objective on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price for the company. in a research note on Wednesday, April 3rd. Telsey Advisory Group raised their target price on shares of Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $875.00 price target (up from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $751.85.

Check Out Our Latest Stock Analysis on COST

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $3,628,694,000. International Assets Investment Management LLC raised its stake in Costco Wholesale by 61,693.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after buying an additional 3,100,099 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $510,353,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Costco Wholesale by 3,647.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after acquiring an additional 552,492 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Costco Wholesale by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a fifty day moving average price of $780.22 and a two-hundred day moving average price of $727.16. The company has a market cap of $386.03 billion, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 5.66 and a beta of 0.79.

Costco Wholesale (NASDAQ:COSTGet Free Report) last released its quarterly earnings results 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 company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.43 earnings per share. On average, research analysts expect that Costco Wholesale Co. will post 15.96 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors 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 0.53%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

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

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