Barclays Raises Costco Wholesale (NASDAQ:COST) Price Target to $850.00

30 Sep 2024, 08:48 by Danessa Lincoln · The Markets Daily

Costco Wholesale (NASDAQ:COST – Free Report) had its target price boosted by Barclays from $830.00 to $850.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the retailer’s stock.

A number of other equities analysts also recently issued reports on the company. DA Davidson restated a neutral rating and set a $780.00 price objective on shares of Costco Wholesale in a research report on Friday, September 6th. Truist Financial downgraded Costco Wholesale from a buy rating to a hold rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Redburn Atlantic downgraded Costco Wholesale from a buy rating to a neutral rating and raised their price objective for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. TD Cowen raised their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a buy rating in a research report on Friday, July 12th. Finally, StockNews.com upgraded Costco Wholesale from a hold rating to a buy rating in a research report on Friday, September 6th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of Moderate Buy and a consensus price target of $881.19.

Get Our Latest Stock Analysis on COST

Costco Wholesale Price Performance

Costco Wholesale stock opened at $885.62 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $392.62 billion, a PE ratio of 54.87, a P/E/G ratio of 5.47 and a beta of 0.80. Costco Wholesale has a 12 month low of $540.23 and a 12 month high of $923.83. The stock has a 50-day moving average price of $870.67 and a two-hundred day moving average price of $817.28.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $4.86 earnings per share. Analysts expect that Costco Wholesale will post 16.02 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 over the last 90 days. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oak Asset Management LLC raised its stake in shares of Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC raised its stake in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. raised its stake in shares of Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after purchasing an additional 13 shares during the period. Boltwood Capital Management raised its stake in shares of Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares during the period. Finally, LifePro Asset Management raised its stake in shares of Costco Wholesale by 3.8% during the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

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