Raymond James Raises Costco Wholesale (NASDAQ:COST) Price Target to $315.00

Costco Wholesale (NASDAQ:COST) had its price target hoisted by Raymond James from $300.00 to $315.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the retailer’s stock.

A number of other brokerages also recently issued reports on COST. ValuEngine downgraded shares of Costco Wholesale from a buy rating to a hold rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an overweight rating in a research report on Monday, September 9th. Deutsche Bank reaffirmed a hold rating and issued a $288.00 price objective (up from $286.00) on shares of Costco Wholesale in a research report on Friday. BidaskClub downgraded shares of Costco Wholesale from a hold rating to a sell rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus upped their price objective on shares of Costco Wholesale from $289.00 to $310.00 and gave the stock a buy rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. Costco Wholesale has a consensus rating of Hold and a consensus price target of $297.61.

Shares of COST traded down $5.47 on Friday, reaching $291.87. The company’s stock had a trading volume of 5,100,588 shares, compared to its average volume of 1,679,618. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Costco Wholesale has a twelve month low of $189.51 and a twelve month high of $307.34. The stock has a market capitalization of $130.46 billion, a PE ratio of 35.64, a PEG ratio of 4.06 and a beta of 0.91. The firm has a fifty day moving average of $298.81 and a 200-day moving average of $282.92.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, December 12th. The retailer reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.02. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The business had revenue of $37.04 billion during the quarter, compared to the consensus estimate of $37.40 billion. During the same period in the prior year, the firm posted $1.61 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Costco Wholesale will post 8.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Thursday, October 31st. Costco Wholesale’s dividend payout ratio is currently 31.75%.

In related news, VP Paul G. Moulton sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $303.05, for a total transaction of $1,205,532.90. Following the sale, the vice president now directly owns 29,565 shares in the company, valued at approximately $8,959,673.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph P. Portera sold 14,095 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $299.52, for a total transaction of $4,221,734.40. Following the sale, the vice president now owns 6,211 shares in the company, valued at $1,860,318.72. The disclosure for this sale can be found here. Insiders have sold a total of 36,780 shares of company stock valued at $11,032,292 over the last three months. Insiders own 0.21% of the company’s stock.

Several hedge funds have recently made changes to their positions in COST. Krane Funds Advisors LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at approximately $27,000. Horan Capital Advisors LLC. purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at approximately $31,000. Cerebellum GP LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at approximately $32,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Costco Wholesale by 164.3% during the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock valued at $32,000 after buying an additional 69 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.

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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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