Costco Wholesale (NASDAQ:COST) Price Target Raised to $935.00 at Truist Financial

Costco Wholesale (NASDAQ:COST) had its target price upped by Truist Financial from $909.00 to $935.00 in a report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the retailer’s stock.

COST has been the subject of several other reports. Tigress Financial restated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Barclays raised their price objective on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Evercore ISI upped their price objective on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $988.46.

Costco Wholesale Stock Up 0.1 %

Costco Wholesale stock opened at $989.35 on Friday. Costco Wholesale has a twelve month low of $630.30 and a twelve month high of $1,007.80. The business has a fifty day moving average of $926.84 and a two-hundred day moving average of $884.70. The firm has a market cap of $438.35 billion, a P/E ratio of 59.71, a P/E/G 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 (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the business posted $4.86 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts forecast that Costco Wholesale will post 17.77 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Activity

In other news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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

Several hedge funds and other institutional investors have recently modified their holdings of COST. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the 3rd quarter worth about $29,000. Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the second quarter valued at approximately $50,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Costco Wholesale in the third quarter valued at approximately $58,000. Finally, Fairway Wealth LLC increased its stake in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

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.