Loop Capital Analysts Give Costco Wholesale (COST) a $265.00 Price Target

Loop Capital set a $265.00 target price on Costco Wholesale (NASDAQ:COST) in a research note published on Wednesday. The firm currently has a buy rating on the retailer’s stock.

COST has been the subject of a number of other research reports. Oppenheimer raised their price objective on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an outperform rating in a research report on Tuesday, August 21st. Zacks Investment Research upgraded shares of Costco Wholesale from a hold rating to a buy rating and set a $270.00 price objective for the company in a research report on Tuesday, September 11th. Royal Bank of Canada reduced their price objective on shares of Costco Wholesale from $255.00 to $253.00 and set an outperform rating for the company in a research report on Friday, October 5th. BidaskClub downgraded shares of Costco Wholesale from a strong-buy rating to a buy rating in a research report on Thursday, July 19th. Finally, Raymond James raised their price objective on shares of Costco Wholesale from $205.00 to $225.00 and gave the company an outperform rating in a research report on Tuesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $237.94.

NASDAQ:COST traded up $5.13 during mid-day trading on Wednesday, reaching $226.95. The stock had a trading volume of 2,939,146 shares, compared to its average volume of 2,232,079. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The company has a market cap of $103.00 billion, a P/E ratio of 38.99, a PEG ratio of 2.78 and a beta of 0.95. Costco Wholesale has a twelve month low of $157.00 and a twelve month high of $245.16.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. Analysts expect that Costco Wholesale will post 6.8 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.57 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. Costco Wholesale’s dividend payout ratio (DPR) is presently 39.18%.

In other news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total transaction of $655,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James P. Murphy sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the transaction, the vice president now directly owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock valued at $5,351,100. 0.58% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Costco Wholesale by 3.3% during the 2nd quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock worth $5,667,910,000 after purchasing an additional 858,755 shares in the last quarter. FMR LLC increased its stake in shares of Costco Wholesale by 13.5% during the 2nd quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock worth $2,209,107,000 after purchasing an additional 1,256,873 shares in the last quarter. Northern Trust Corp increased its stake in shares of Costco Wholesale by 0.6% during the 2nd quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock worth $1,301,817,000 after purchasing an additional 37,778 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Costco Wholesale by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 2,597,844 shares of the retailer’s stock worth $542,898,000 after purchasing an additional 109,028 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Costco Wholesale by 1.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock worth $376,180,000 after purchasing an additional 23,227 shares in the last quarter. 71.49% of the stock is 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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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