Costco Wholesale (COST) Price Target Increased to $230.00 by Analysts at Loop Capital

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Costco Wholesale (NASDAQ:COST) had its price target hoisted by Loop Capital to $230.00 in a research note published on Wednesday. They currently have a buy rating on the retailer’s stock.

COST has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Costco Wholesale from $206.00 to $212.00 and gave the company an overweight rating in a research report on Friday, June 1st. Telsey Advisory Group lifted their target price on shares of Costco Wholesale from $210.00 to $220.00 and gave the company an outperform rating in a research report on Friday, June 1st. Susquehanna Bancshares reiterated a positive rating on shares of Costco Wholesale in a research report on Thursday, June 7th. Robert W. Baird lifted their target price on shares of Costco Wholesale from $215.00 to $230.00 and gave the company an outperform rating in a research report on Thursday, June 7th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $205.00 target price (down previously from $209.00) on shares of Costco Wholesale in a research report on Thursday, March 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $199.15.

Costco Wholesale opened at $207.98 on Wednesday, according to MarketBeat. Costco Wholesale has a fifty-two week low of $150.00 and a fifty-two week high of $208.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 2.75 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The company had revenue of $32.36 billion during the quarter, compared to analysts’ expectations of $31.89 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts anticipate that Costco Wholesale will post 6.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, May 10th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 1.10%. Costco Wholesale’s payout ratio is presently 39.18%.

In related news, VP Paul G. Moulton sold 5,585 shares of the business’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $206.83, for a total transaction of $1,155,145.55. Following the transaction, the vice president now directly owns 27,988 shares in the company, valued at $5,788,758.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy L. Rose sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $205.19, for a total transaction of $512,975.00. Following the completion of the transaction, the vice president now owns 20,403 shares in the company, valued at $4,186,491.57. The disclosure for this sale can be found here. Insiders have sold 38,884 shares of company stock worth $7,741,396 over the last 90 days. 0.74% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Cynosure Advisors LLC acquired a new position in Costco Wholesale in the 1st quarter valued at about $399,000. Brasada Capital Management LP boosted its holdings in Costco Wholesale by 5.3% in the 1st quarter. Brasada Capital Management LP now owns 13,256 shares of the retailer’s stock valued at $2,498,000 after purchasing an additional 667 shares during the last quarter. Altium Wealth Management LLC boosted its holdings in Costco Wholesale by 42.3% in the 1st quarter. Altium Wealth Management LLC now owns 1,597 shares of the retailer’s stock valued at $301,000 after purchasing an additional 475 shares during the last quarter. Dundas Partners LLP acquired a new position in Costco Wholesale in the 1st quarter valued at about $9,639,000. Finally, Nicola Wealth Management LTD. acquired a new position in Costco Wholesale in the 1st quarter valued at about $4,711,000. Institutional investors own 71.29% of the company’s stock.

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.

Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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