Costco Wholesale (NASDAQ:COST) had its price objective upped by Citigroup from $242.00 to $243.00 in a report published on Monday, April 1st, AnalystRatings.com reports. They currently have a neutral rating on the retailer’s stock.
A number of other equities research analysts also recently weighed in on the stock. Loop Capital boosted their price target on shares of Costco Wholesale from $260.00 to $265.00 and gave the stock a buy rating in a research note on Monday, April 1st. UBS Group boosted their price objective on shares of Costco Wholesale to $280.00 and gave the company a buy rating in a report on Friday, March 22nd. Evercore ISI began coverage on shares of Costco Wholesale in a report on Wednesday, March 20th. They set an outperform rating and a $260.00 price objective for the company. Nomura began coverage on shares of Costco Wholesale in a report on Wednesday, March 20th. They set a neutral rating and a $230.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Costco Wholesale from a hold rating to a buy rating and set a $243.00 price objective for the company in a report on Monday, March 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Costco Wholesale presently has an average rating of Buy and a consensus target price of $248.95.
Shares of COST traded down $1.78 on Monday, reaching $243.82. 1,471,634 shares of the company’s stock were exchanged, compared to its average volume of 2,055,798. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.46. The company has a market cap of $108.05 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 3.47 and a beta of 0.95. Costco Wholesale has a 12 month low of $189.51 and a 12 month high of $248.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s payout ratio is currently 33.38%.
In other Costco Wholesale news, Director John W. Meisenbach acquired 3,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were acquired at an average price of $242.65 per share, with a total value of $727,950.00. Following the completion of the transaction, the director now directly owns 12,833 shares in the company, valued at approximately $3,113,927.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Decker sold 2,049 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the sale, the director now directly owns 48,589 shares in the company, valued at approximately $11,272,648. The disclosure for this sale can be found here. In the last three months, insiders sold 8,587 shares of company stock worth $2,004,576. 0.21% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Country Club Trust Company n.a. raised its position in Costco Wholesale by 8.0% during the fourth quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock worth $1,336,000 after acquiring an additional 484 shares in the last quarter. Bernicke Wealth Management Ltd. raised its position in Costco Wholesale by 3.3% during the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock worth $818,000 after acquiring an additional 127 shares in the last quarter. Ruggie Capital Group bought a new stake in Costco Wholesale during the fourth quarter worth $61,000. Ipswich Investment Management Co. Inc. raised its position in Costco Wholesale by 80.1% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock worth $3,133,000 after acquiring an additional 6,839 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its position in Costco Wholesale by 2.5% during the fourth quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock worth $1,585,000 after acquiring an additional 191 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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