Costco Wholesale (NASDAQ:COST) Price Target Raised to $940.00

Costco Wholesale (NASDAQ:COST) had its price objective hoisted by Loop Capital from $890.00 to $940.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the retailer’s stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $875.00 price objective (up previously from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Argus lifted their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Roth Mkm restated a neutral rating and set a $676.00 price objective (up from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. DA Davidson reiterated a neutral rating and issued a $680.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Finally, Barclays boosted their target price on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an equal weight rating in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $751.85.

Costco Wholesale Trading Up 1.1 %

NASDAQ:COST opened at $855.67 on Friday. Costco Wholesale has a one year low of $516.54 and a one year high of $856.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a market cap of $379.34 billion, a P/E ratio of 53.02, a P/E/G ratio of 5.66 and a beta of 0.79. The firm has a 50-day simple moving average of $774.06 and a 200-day simple moving average of $723.29.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. During the same quarter in the previous year, the business posted $3.43 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale will post 15.96 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.54%. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value 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 can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently added to or reduced their stakes in the stock. SRN Advisors LLC grew its position in shares of Costco Wholesale by 5.7% during the first quarter. SRN Advisors LLC now owns 3,171 shares of the retailer’s stock worth $2,323,000 after acquiring an additional 172 shares during the last quarter. Keynote Financial Services LLC acquired a new stake in Costco Wholesale in the first quarter valued at $201,000. Mosaic Family Wealth Partners LLC raised its stake in shares of Costco Wholesale by 1.4% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 1,406 shares of the retailer’s stock worth $1,030,000 after buying an additional 20 shares during the last quarter. IMS Capital Management raised its stake in shares of Costco Wholesale by 2.7% during the 1st quarter. IMS Capital Management now owns 3,542 shares of the retailer’s stock worth $2,595,000 after buying an additional 93 shares during the last quarter. Finally, Jackson Wealth Management LLC raised its stake in shares of Costco Wholesale by 6.0% during the 1st quarter. Jackson Wealth Management LLC now owns 19,625 shares of the retailer’s stock worth $14,378,000 after buying an additional 1,105 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile

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.