Deutsche Bank Raises Costco Wholesale (NASDAQ:COST) Price Target to $299.00

Costco Wholesale (NASDAQ:COST) had its target price hoisted by Deutsche Bank from $298.00 to $299.00 in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the retailer’s stock.

Several other equities research analysts have also weighed in on COST. Nomura Securities reissued a hold rating and set a $310.00 price objective on shares of Costco Wholesale in a research note on Monday, April 13th. Guggenheim reiterated a hold rating on shares of Costco Wholesale in a research report on Monday, June 29th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $320.00 to $330.00 and gave the company an overweight rating in a research note on Thursday, June 25th. Citigroup assumed coverage on shares of Costco Wholesale in a report on Tuesday, April 14th. They issued a neutral rating and a $310.00 target price for the company. Finally, TheStreet upgraded shares of Costco Wholesale from a c rating to a b- rating in a report on Monday, June 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $326.46.

NASDAQ:COST opened at $325.53 on Thursday. Costco Wholesale has a twelve month low of $262.71 and a twelve month high of $331.49. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $312.74 and a 200-day moving average of $306.86. The firm has a market cap of $143.73 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 4.58 and a beta of 0.68.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 28th. The retailer reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.03). The business had revenue of $36.45 billion during the quarter, compared to the consensus estimate of $36.66 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, research analysts forecast that Costco Wholesale will post 8.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, July 30th. This represents a $2.80 annualized dividend and a dividend yield of 0.86%. Costco Wholesale’s dividend payout ratio (DPR) is 34.19%.

In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $326.00, for a total transaction of $1,630,000.00. Following the transaction, the vice president now directly owns 32,771 shares of the company’s stock, valued at $10,683,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy L. Rose sold 6,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $308.05, for a total value of $1,848,300.00. Following the completion of the sale, the vice president now directly owns 23,680 shares of the company’s stock, valued at approximately $7,294,624. The disclosure for this sale can be found here. Insiders have sold a total of 30,380 shares of company stock worth $9,514,249 in the last 90 days. 0.22% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in COST. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 45,677 shares during the period. Morgan Stanley lifted its position in shares of Costco Wholesale by 3.5% during the 1st quarter. Morgan Stanley now owns 3,366,481 shares of the retailer’s stock worth $959,885,000 after purchasing an additional 115,213 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Costco Wholesale by 1.2% during the 1st quarter. Fisher Asset Management LLC now owns 3,076,039 shares of the retailer’s stock valued at $877,071,000 after purchasing an additional 37,808 shares during the period. Legal & General Group Plc grew its holdings in Costco Wholesale by 2.9% in the 1st quarter. Legal & General Group Plc now owns 2,942,479 shares of the retailer’s stock valued at $839,131,000 after buying an additional 82,346 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Costco Wholesale by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 2,190,524 shares of the retailer’s stock valued at $624,584,000 after buying an additional 13,475 shares during the last quarter. 68.79% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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