Truist Financial Forecasts Strong Price Appreciation for Costco Wholesale (NASDAQ:COST) Stock

Costco Wholesale (NASDAQ:COST) had its price target raised by Truist Financial from $935.00 to $995.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the retailer’s stock.

A number of other research analysts also recently weighed in on the stock. TD Cowen increased their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Robert W. Baird raised their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer reiterated an “outperform” rating and set a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,029.00.

Costco Wholesale Stock Down 6.1 %

Costco Wholesale stock opened at $964.31 on Friday. Costco Wholesale has a 12 month low of $697.27 and a 12 month high of $1,078.24. The stock has a fifty day simple moving average of $989.69 and a two-hundred day simple moving average of $942.97. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a market cap of $428.06 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Equities analysts predict that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.09%.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently modified their holdings of the stock. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the 4th quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale in the third quarter worth about $29,000. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale in the fourth quarter worth about $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in Costco Wholesale during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.