Costco Wholesale (NASDAQ:COST) PT Raised to $710.00

Costco Wholesale (NASDAQ:COST) had its price objective increased by Citigroup from $630.00 to $710.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the retailer’s stock.

A number of other equities research analysts also recently commented on the stock. Oppenheimer raised their price objective on shares of Costco Wholesale from $760.00 to $805.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Loop Capital lowered their target price on shares of Costco Wholesale from $830.00 to $820.00 and set a buy rating for the company in a research note on Thursday, April 11th. Tigress Financial lifted their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a buy rating in a report on Friday, March 15th. Finally, StockNews.com lowered shares of Costco Wholesale from a buy rating to a hold rating in a report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $694.48.

Costco Wholesale Price Performance

Shares of COST opened at $729.18 on Tuesday. Costco Wholesale has a fifty-two week low of $476.75 and a fifty-two week high of $787.08. The company has a market capitalization of $323.39 billion, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 4.82 and a beta of 0.77. The firm has a 50-day simple moving average of $730.41 and a 200-day simple moving average of $666.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale will post 15.84 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $1.16 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.64%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 26.68%.

Insider Activity

In other news, Director Susan L. Decker sold 1,442 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now owns 12,395 shares in the company, valued at approximately $8,967,534.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,228,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 1,442 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the sale, the director now owns 12,395 shares in the company, valued at approximately $8,967,534.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,727 shares of company stock worth $2,682,948. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the stock. Richelieu Gestion SA acquired a new stake in Costco Wholesale during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the fourth quarter worth about $26,000. Morton Brown Family Wealth LLC raised its stake in Costco Wholesale by 200.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in Costco Wholesale during the fourth quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale during the first quarter worth about $32,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

About Costco Wholesale

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.