Telsey Advisory Group Raises Costco Wholesale (NASDAQ:COST) Price Target to $1,000.00

by · The Markets Daily

Costco Wholesale (NASDAQ:COST – Free Report) had its price objective upped by Telsey Advisory Group from $925.00 to $1,000.00 in a report issued on Friday morning, MarketBeat.com reports. Telsey Advisory Group currently has an outperform rating on the retailer’s stock.

COST has been the subject of several other research reports. Barclays increased their price target on Costco Wholesale from $765.00 to $830.00 and gave the stock an equal weight rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a buy rating in a research report on Thursday, August 8th. DA Davidson restated a neutral rating and set a $780.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. Oppenheimer increased their target price on Costco Wholesale from $925.00 to $955.00 and gave the company an outperform rating in a report on Friday, September 6th. Finally, Wells Fargo & Company raised their target price on Costco Wholesale from $775.00 to $800.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has an average rating of Moderate Buy and a consensus price target of $883.04.

View Our Latest Report on COST

Costco Wholesale Stock Up 0.1 %

COST stock opened at $886.52 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale has a 1-year low of $540.23 and a 1-year high of $923.83. The firm has a fifty day moving average price of $871.45 and a two-hundred day moving average price of $818.37. The firm has a market cap of $393.03 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 5.47 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the prior year, the business earned $4.86 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that Costco Wholesale will post 16.02 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Insider Activity

In other news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred 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 transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Kenneth D. Denman sold 350 shares of the business’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 completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

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

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.

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