Costco Wholesale (NASDAQ:COST) Price Target Increased to $955.00 by Analysts at Oppenheimer

Costco Wholesale (NASDAQ:COST) had its price objective raised by Oppenheimer from $925.00 to $955.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the retailer’s stock.

Other equities research analysts have also issued reports about the company. Evercore ISI increased their price target on Costco Wholesale from $915.00 to $925.00 and gave the stock an outperform rating in a research report on Friday. TD Cowen lifted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a buy rating in a research report on Friday, July 12th. BMO Capital Markets lifted their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an outperform rating in a report on Monday, August 12th. Telsey Advisory Group restated an outperform rating and issued a $925.00 price target on shares of Costco Wholesale in a research report on Tuesday, August 27th. Finally, Truist Financial upped their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a buy rating in a report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $842.77.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $896.49 on Friday. The business’s fifty day moving average price is $858.47 and its two-hundred day moving average price is $801.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale has a fifty-two week low of $540.23 and a fifty-two week high of $918.93. The stock has a market capitalization of $397.44 billion, a price-to-earnings ratio of 55.54, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the transaction, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock valued at $4,252,856 in the last quarter. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Vima LLC bought a new stake in Costco Wholesale in the 4th quarter valued at $34,000. DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. increased its holdings in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

About Costco Wholesale

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.