Costco Wholesale (NASDAQ:COST) had its price objective raised by JPMorgan Chase & Co. from $365.00 to $405.00 in a research report released on Friday, The Fly reports. The brokerage currently has an overweight rating on the retailer’s stock.
COST has been the topic of a number of other research reports. TheStreet raised Costco Wholesale from a c rating to a b- rating in a report on Monday, June 1st. DA Davidson began coverage on Costco Wholesale in a report on Friday, August 14th. They issued a neutral rating and a $363.00 price target on the stock. Stifel Nicolaus raised their price target on Costco Wholesale from $360.00 to $375.00 and gave the company a buy rating in a report on Thursday. Loop Capital raised their price target on Costco Wholesale from $360.00 to $390.00 and gave the company a buy rating in a report on Thursday, August 6th. They noted that the move was a valuation call. Finally, Cowen raised their price target on Costco Wholesale from $370.00 to $410.00 in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the stock. Costco Wholesale presently has a consensus rating of Buy and a consensus target price of $350.42.
Shares of COST opened at $346.57 on Friday. The stock’s 50-day simple moving average is $336.45 and its 200 day simple moving average is $312.57. The stock has a market capitalization of $153.02 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 4.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.63 and a current ratio of 1.11. Costco Wholesale has a 52-week low of $271.28 and a 52-week high of $363.67.
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.70 per share. The ex-dividend date was Thursday, July 30th. This represents a $2.80 annualized dividend and a yield of 0.81%. Costco Wholesale’s payout ratio is 34.19%.
In related news, VP Timothy L. Rose sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $308.05, for a total transaction of $1,848,300.00. Following the transaction, the vice president now directly owns 23,680 shares in the company, valued at approximately $7,294,624. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 1,754 shares of Costco Wholesale stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $605,130.00. Following the completion of the sale, the chief financial officer now owns 18,983 shares in the company, valued at $6,549,135. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,889 shares of company stock worth $8,968,019. 0.22% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of Costco Wholesale by 4.8% in the 2nd quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock worth $3,662,043,000 after buying an additional 551,799 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Costco Wholesale by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,621,092 shares of the retailer’s stock worth $1,317,613,000 after buying an additional 45,677 shares during the last quarter. Morgan Stanley grew its position in shares of Costco Wholesale by 3.5% in the 1st quarter. Morgan Stanley now owns 3,366,481 shares of the retailer’s stock worth $959,885,000 after buying an additional 115,213 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Costco Wholesale by 6.7% in the 2nd quarter. Fisher Asset Management LLC now owns 3,282,895 shares of the retailer’s stock worth $995,407,000 after buying an additional 206,856 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Costco Wholesale by 2.9% in the 1st quarter. Legal & General Group Plc now owns 2,942,479 shares of the retailer’s stock worth $839,131,000 after buying an additional 82,346 shares during the last quarter. Hedge funds and other institutional investors own 68.20% of the company’s stock.
Costco Wholesale Company Profile
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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