Costco Wholesale (NASDAQ:COST – Free Report) had its price objective raised by Morgan Stanley from $535.00 to $585.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the retailer’s stock.
Several other research analysts have also recently weighed in on COST. Truist Financial boosted their price objective on shares of Costco Wholesale from $567.00 to $597.00 and gave the company a buy rating in a report on Thursday, August 3rd. StockNews.com initiated coverage on shares of Costco Wholesale in a report on Wednesday, August 23rd. They set a hold rating for the company. HSBC initiated coverage on shares of Costco Wholesale in a report on Friday, September 22nd. They set a hold rating and a $600.00 price objective for the company. UBS Group boosted their price objective on shares of Costco Wholesale from $560.00 to $640.00 and gave the company a buy rating in a report on Thursday, August 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of Costco Wholesale from $610.00 to $640.00 and gave the company a buy rating in a report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $578.37.
Check Out Our Latest Stock Analysis on COST
Costco Wholesale Stock Up 1.9 %
Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results on Tuesday, September 26th. The retailer reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.79 by $0.07. The business had revenue of $78.94 billion during the quarter, compared to analysts’ expectations of $77.72 billion. Costco Wholesale had a net margin of 2.55% and a return on equity of 28.18%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.20 earnings per share. On average, analysts anticipate that Costco Wholesale will post 14.38 EPS for the current fiscal year.
Costco Wholesale Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were given a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.72%. Costco Wholesale’s payout ratio is currently 30.22%.
Hedge Funds Weigh In On Costco Wholesale
Hedge funds and other institutional investors have recently modified their holdings of the stock. Aspire Private Capital LLC bought a new position in shares of Costco Wholesale during the first quarter worth $20,406,948,000. Mach 1 Financial Group LLC bought a new position in shares of Costco Wholesale during the first quarter worth $22,359,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Costco Wholesale during the second quarter worth $31,000. Impact Partnership Wealth LLC bought a new position in shares of Costco Wholesale during the second quarter worth $37,000. Finally, Horizon Bancorp Inc. IN bought a new position in shares of Costco Wholesale during the second quarter worth $38,000. Institutional investors own 66.31% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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