TD Cowen Boosts Costco Wholesale (NASDAQ:COST) Price Target to $975.00

by · The Markets Daily

Costco Wholesale (NASDAQ:COST – Free Report) had its price target increased by TD Cowen from $925.00 to $975.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the retailer’s stock.

COST has been the topic of several other reports. Truist Financial lowered shares of Costco Wholesale from a buy rating to a hold rating and set a $873.00 price objective on the stock. in a report on Tuesday, September 24th. Evercore ISI lifted their price target on Costco Wholesale from $915.00 to $925.00 and gave the company an outperform rating in a report on Friday, September 6th. Stifel Nicolaus upped their price objective on Costco Wholesale from $915.00 to $925.00 and gave the stock a buy rating in a research note on Friday, September 27th. Wells Fargo & Company raised their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company an equal weight rating in a research report on Friday, September 27th. Finally, Gordon Haskett upgraded shares of Costco Wholesale from an accumulate rating to a buy rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $883.04.

View Our Latest Analysis on Costco Wholesale

Costco Wholesale Price Performance

Shares of COST stock opened at $878.53 on Monday. Costco Wholesale has a twelve month low of $540.23 and a twelve month high of $923.83. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $872.91 and a two-hundred day simple moving average of $819.85. The stock has a market capitalization of $389.48 billion, a price-to-earnings ratio of 54.43, a P/E/G ratio of 5.38 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.30%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.86 earnings per share. On average, analysts predict that Costco Wholesale will post 17.74 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,174 shares of company stock worth $7,097,624. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several institutional investors have recently bought and sold shares of the business. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale in the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the first quarter valued at about $32,000. Vima LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $34,000. Financial Connections Group Inc. raised its position in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in shares of Costco Wholesale during the 2nd quarter worth about $48,000. 68.48% of the stock is owned by institutional investors and hedge funds.

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.

Featured Stories