Telsey Advisory Group Boosts Costco Wholesale (NASDAQ:COST) Price Target to $750.00

Costco Wholesale (NASDAQ:COSTFree Report) had its price target upped by Telsey Advisory Group from $700.00 to $750.00 in a report released on Tuesday, MarketBeat reports. The firm currently has an outperform rating on the retailer’s stock. Telsey Advisory Group also issued estimates for Costco Wholesale’s Q2 2024 earnings at $3.59 EPS, Q2 2024 earnings at $3.60 EPS, FY2024 earnings at $15.71 EPS, Q2 2025 earnings at $3.97 EPS, Q2 2025 earnings at $3.98 EPS and FY2025 earnings at $17.39 EPS.

COST has been the subject of several other reports. Tigress Financial increased their price target on Costco Wholesale from $635.00 to $745.00 and gave the stock a buy rating in a report on Friday, December 29th. DA Davidson upped their price objective on Costco Wholesale from $570.00 to $600.00 and gave the stock a neutral rating in a report on Friday, December 15th. StockNews.com raised Costco Wholesale from a hold rating to a buy rating in a report on Saturday, January 13th. Citigroup raised their target price on Costco Wholesale from $585.00 to $630.00 and gave the company a neutral rating in a report on Friday, December 15th. Finally, Evercore ISI raised their target price on Costco Wholesale from $640.00 to $650.00 and gave the company an outperform rating in a report on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of Moderate Buy and a consensus target price of $659.96.

Check Out Our Latest Report on Costco Wholesale

Costco Wholesale Stock Performance

NASDAQ COST opened at $723.40 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.09 and a quick ratio of 0.60. Costco Wholesale has a 1 year low of $465.33 and a 1 year high of $728.17. The company has a market capitalization of $320.99 billion, a PE ratio of 49.31, a P/E/G ratio of 5.20 and a beta of 0.77. The company has a fifty day moving average of $669.74 and a two-hundred day moving average of $599.52.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. The firm had revenue of $57.80 billion during the quarter, compared to analysts’ expectations of $57.79 billion. Costco Wholesale had a net margin of 2.65% and a return on equity of 27.44%. Costco Wholesale’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.10 EPS. As a group, analysts expect that Costco Wholesale will post 15.6 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, February 1st. Costco Wholesale’s dividend payout ratio is currently 27.81%.

Insider Buying and Selling

In other news, EVP Caton Frates sold 740 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares in the company, valued at approximately $4,593,803.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares of the company’s stock, valued at $4,593,803.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total transaction of $927,220.00. Following the completion of the transaction, the insider now directly owns 13,922 shares in the company, valued at approximately $9,220,540.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,752 shares of company stock worth $9,377,669. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Costco Wholesale by 1.8% in the 2nd quarter. State Street Corp now owns 19,108,655 shares of the retailer’s stock worth $10,287,718,000 after purchasing an additional 333,308 shares during the last quarter. Morgan Stanley grew its holdings in shares of Costco Wholesale by 18.0% in the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after purchasing an additional 1,315,174 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Costco Wholesale by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 8,430,277 shares of the retailer’s stock worth $4,525,419,000 after purchasing an additional 219,892 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Costco Wholesale by 118,320.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after purchasing an additional 7,390,278 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Costco Wholesale by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,851,678 shares of the retailer’s stock worth $3,150,426,000 after purchasing an additional 256,155 shares during the last quarter. Institutional investors own 66.31% of the company’s stock.

About Costco Wholesale

(Get Free Report)

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.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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