Costco Wholesale (NASDAQ:COST) Given New $935.00 Price Target at Truist Financial

Costco Wholesale (NASDAQ:COST) had its price objective hoisted by Truist Financial from $909.00 to $935.00 in a report published on Friday,Benzinga reports. They currently have a hold rating on the retailer’s stock.

A number of other research firms have also recently weighed in on COST. Tigress Financial restated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Barclays boosted their price objective on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. UBS Group increased their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday. Telsey Advisory Group reissued an “outperform” rating and set a $1,050.00 target price on shares of Costco Wholesale in a research note on Friday. Finally, Melius Research initiated coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $988.46.

Costco Wholesale Stock Up 0.1 %

COST stock opened at $989.35 on Friday. The business’s 50-day moving average price is $926.84 and its 200-day moving average price is $884.70. The stock has a market cap of $438.35 billion, a P/E ratio of 59.71, a PEG ratio of 6.05 and a beta of 0.82. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale has a twelve month low of $630.30 and a twelve month high of $1,007.80.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.86 EPS. On average, equities research analysts forecast that Costco Wholesale will post 17.77 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Insider Activity

In other news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Foster Victor Wealth Advisors LLC increased its position in shares of Costco Wholesale by 11.3% during the second quarter. Foster Victor Wealth Advisors LLC now owns 530 shares of the retailer’s stock worth $451,000 after acquiring an additional 54 shares during the period. Everpar Advisors LLC grew its stake in Costco Wholesale by 55.8% in the second quarter. Everpar Advisors LLC now owns 522 shares of the retailer’s stock worth $444,000 after purchasing an additional 187 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Costco Wholesale by 33.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,084 shares of the retailer’s stock worth $12,821,000 after purchasing an additional 3,780 shares during the period. Oakworth Capital Inc. raised its position in Costco Wholesale by 13.9% during the 2nd quarter. Oakworth Capital Inc. now owns 1,839 shares of the retailer’s stock valued at $1,563,000 after purchasing an additional 224 shares in the last quarter. Finally, CAP Partners LLC lifted its holdings in shares of Costco Wholesale by 2.8% in the 2nd quarter. CAP Partners LLC now owns 515 shares of the retailer’s stock worth $438,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.