Gordon Haskett upgraded shares of Costco Wholesale (NASDAQ:COST) from a hold rating to an accumulate rating in a report released on Friday, September 20th, BenzingaRatingsTable reports. Gordon Haskett currently has $330.00 target price on the retailer’s stock, up from their previous target price of $255.00.
A number of other equities analysts have also recently issued reports on COST. JPMorgan Chase & Co. lifted their target price on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an overweight rating in a research report on Monday, September 9th. Guggenheim reiterated a hold rating on shares of Costco Wholesale in a report on Friday, September 6th. Telsey Advisory Group set a $305.00 price target on shares of Costco Wholesale and gave the stock a buy rating in a report on Tuesday, September 3rd. Loop Capital boosted their target price on shares of Costco Wholesale to $330.00 and gave the company a buy rating in a report on Friday, September 6th. Finally, Royal Bank of Canada set a $321.00 target price on shares of Costco Wholesale and gave the company a buy rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $293.13.
Shares of NASDAQ COST traded up $0.46 during midday trading on Friday, hitting $297.60. The company had a trading volume of 1,618,466 shares, compared to its average volume of 2,448,986. The company has a quick ratio of 0.52, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $130.57 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 4.07 and a beta of 0.94. The business has a 50-day simple moving average of $290.57 and a two-hundred day simple moving average of $266.00. Costco Wholesale has a twelve month low of $189.51 and a twelve month high of $307.34.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.15. The company had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.36 earnings per share. On average, equities analysts forecast that Costco Wholesale will post 8.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Costco Wholesale’s payout ratio is currently 31.75%.
In other news, VP Paul G. Moulton sold 5,976 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the transaction, the vice president now directly owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of COST. Successful Portfolios LLC grew its position in shares of Costco Wholesale by 4.7% during the third quarter. Successful Portfolios LLC now owns 949 shares of the retailer’s stock worth $273,000 after acquiring an additional 43 shares during the last quarter. Clarus Wealth Advisors grew its position in shares of Costco Wholesale by 42.9% during the third quarter. Clarus Wealth Advisors now owns 3,248 shares of the retailer’s stock worth $936,000 after acquiring an additional 975 shares during the last quarter. Northside Capital Management LLC bought a new position in shares of Costco Wholesale during the third quarter worth about $559,000. CLARET ASSET MANAGEMENT Corp bought a new position in shares of Costco Wholesale during the third quarter worth about $241,000. Finally, Welch & Forbes LLC grew its position in shares of Costco Wholesale by 0.3% during the third quarter. Welch & Forbes LLC now owns 112,364 shares of the retailer’s stock worth $32,373,000 after acquiring an additional 297 shares during the last quarter. 71.07% of the stock is currently owned by hedge funds and other institutional investors.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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