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

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) was up 0.6% during trading on Monday after Tigress Financial raised their price target on the stock from $745.00 to $870.00. Tigress Financial currently has a buy rating on the stock. Costco Wholesale traded as high as $732.61 and last traded at $729.98. Approximately 561,887 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 2,228,425 shares. The stock had previously closed at $725.63.

Several other research firms have also issued reports on COST. Citigroup raised their target price on shares of Costco Wholesale from $585.00 to $630.00 and gave the stock a “neutral” rating in a report on Friday, December 15th. UBS Group raised their target price on shares of Costco Wholesale from $640.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Loop Capital raised their target price on shares of Costco Wholesale from $710.00 to $755.00 in a report on Friday, January 19th. Stifel Nicolaus raised their target price on shares of Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Northcoast Research lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 price objective for the company. in a report on Wednesday, December 20th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $668.50.

Read Our Latest Analysis on COST

Insider Activity

In other news, Director W Craig Jelinek sold 8,000 shares of the company’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 directly owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel M. Hines sold 1,400 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total value of $927,220.00. Following the completion of the transaction, the insider now directly owns 13,922 shares in the company, valued at approximately $9,220,540.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $5,487,440.00. Following the completion of the transaction, the director now owns 216,212 shares of the company’s stock, valued at $148,306,297.16. The disclosure for this sale can be found here. Insiders have sold 15,582 shares of company stock valued at $10,736,778 in the last ninety days. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently added to or reduced their stakes in COST. Richelieu Gestion SA purchased a new stake in shares of Costco Wholesale during the fourth quarter worth $25,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Costco Wholesale during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth $26,000. Morton Brown Family Wealth LLC grew its holdings in shares of Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $30,000. 66.31% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The stock’s fifty day moving average is $717.61 and its 200-day moving average is $635.33. The stock has a market cap of $328.51 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 5.07 and a beta of 0.77.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Costco Wholesale’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 15.78 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 2nd were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 26.68%.

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.

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