Costco Wholesale Co. (NASDAQ:COST) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Costco Wholesale Co. (NASDAQ:COST) have earned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $844.52.

A number of equities analysts recently weighed in on COST shares. Loop Capital lifted their price objective on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research report on Friday, September 6th. TD Cowen boosted their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Morgan Stanley lifted their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Roth Mkm restated a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st.

Costco Wholesale Stock Up 0.7 %

Costco Wholesale stock opened at $906.98 on Monday. The stock has a market capitalization of $402.10 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $864.85 and a two-hundred day moving average of $810.90. Costco Wholesale has a twelve month low of $540.23 and a twelve month high of $923.83.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the sale, the insider now directly owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock worth $4,252,856 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Costco Wholesale

Several large investors have recently added to or reduced their stakes in the business. Zhang Financial LLC lifted its holdings in shares of Costco Wholesale by 3.8% during the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares during the period. Strong Tower Advisory Services raised its stake in Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after purchasing an additional 137 shares during the period. Aigen Investment Management LP purchased a new position in Costco Wholesale during the fourth quarter worth approximately $3,871,000. J.W. Cole Advisors Inc. grew its stake in shares of Costco Wholesale by 52.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after buying an additional 2,620 shares during the period. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after buying an additional 656 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile

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.