Costco Wholesale (NASDAQ:COST) Price Target Raised to $1,155.00

Costco Wholesale (NASDAQ:COST) had its price objective upped by Sanford C. Bernstein from $1,143.00 to $1,155.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the retailer’s stock.

A number of other analysts have also recently commented on COST. JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Robert W. Baird set a $1,175.00 price objective on shares of Costco Wholesale in a report on Friday, September 25th. Truist Financial reduced their price objective on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research note on Friday, September 25th. Oppenheimer restated an “outperform” rating and set a $1,160.00 target price on shares of Costco Wholesale in a research report on Wednesday, September 16th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Costco Wholesale in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $1,092.23.

Costco Wholesale Trading Up 1.3%

Shares of COST opened at $1,106.21 on Wednesday. The business has a 50-day moving average of $967.12 and a 200 day moving average of $975.13. Costco Wholesale has a fifty-two week low of $844.06 and a fifty-two week high of $1,109.50. The firm has a market cap of $490.19 billion, a P/E ratio of 53.41, a price-to-earnings-growth ratio of 4.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. The business had revenue of $95.72 billion for the quarter, compared to analysts’ expectations of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.87 EPS. As a group, research analysts forecast that Costco Wholesale will post 22.70 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be paid a dividend of $30.00 per share. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.32%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the sale, the executive vice president owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa A. Jones sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total value of $975,555.00. Following the completion of the sale, the executive vice president directly owned 5,698 shares in the company, valued at approximately $6,176,347.10. The trade was a 13.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,956 shares of company stock valued at $4,873,216 over the last 90 days. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cornermen Financial LLC bought a new position in shares of Costco Wholesale in the 3rd quarter worth $758,000. Empowered Funds LLC raised its position in shares of Costco Wholesale by 2.6% during the 3rd quarter. Empowered Funds LLC now owns 103,169 shares of the retailer’s stock valued at $93,919,000 after buying an additional 2,650 shares in the last quarter. United Southern Bank Trust Department bought a new stake in shares of Costco Wholesale during the 3rd quarter worth $592,000. Kovack Advisors Inc. lifted its holdings in shares of Costco Wholesale by 5.7% during the 3rd quarter. Kovack Advisors Inc. now owns 8,260 shares of the retailer’s stock worth $7,539,000 after acquiring an additional 447 shares during the last quarter. Finally, Mayport LLC grew its position in Costco Wholesale by 6.1% in the third quarter. Mayport LLC now owns 349 shares of the retailer’s stock worth $317,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Latest Costco Wholesale News

Investors following COST have been watching these news items:

• Positive Sentiment: Costco’s recent sales growth and strong membership-focused business have helped fuel optimism ahead of its next quarterly results, scheduled for December 10. Article: Costco Hits All-Time High Amid $4 Billion Buyback, Special Dividend
• Neutral Sentiment: Two executives, Teresa Jones and Sarah Catherine George, disclosed sales of 900 and 756 shares, respectively. Insider sales can attract attention, but the reports do not establish that the transactions reflect a change in business outlook. Article: Costco insider trades
• Negative Sentiment: A recall of certain Kirkland Signature whipped cream cans over possible cleaning-chemical contamination creates a limited product and reputational risk. Article: Thanksgiving staple recalled at Costco over possible contamination

Costco Wholesale Company Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.