Costco Wholesale (COST) Price Target Raised to $242.00 at Citigroup

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Costco Wholesale (NASDAQ:COST) had its price objective upped by Citigroup from $238.00 to $242.00 in a report published on Monday morning. The brokerage currently has a neutral rating on the retailer’s stock.

A number of other research firms have also recently weighed in on COST. Bank of America set a $255.00 price target on shares of Costco Wholesale and gave the stock a buy rating in a research note on Friday, March 8th. Deutsche Bank set a $225.00 price target on shares of Costco Wholesale and gave the stock a hold rating in a research note on Friday, March 8th. Morgan Stanley set a $220.00 price objective on shares of Costco Wholesale and gave the stock a hold rating in a research report on Friday, March 8th. BidaskClub upgraded shares of Costco Wholesale from a buy rating to a strong-buy rating in a research report on Saturday, March 9th. Finally, Zacks Investment Research upgraded shares of Costco Wholesale from a hold rating to a buy rating and set a $243.00 price objective on the stock in a research report on Monday. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $242.56.

NASDAQ:COST opened at $233.84 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.96. Costco Wholesale has a fifty-two week low of $180.83 and a fifty-two week high of $245.16. The firm has a market cap of $102.62 billion, a PE ratio of 34.24, a P/E/G ratio of 3.12 and a beta of 0.94.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. The business had revenue of $35.40 billion for the quarter. During the same period last year, the company earned $1.59 earnings per share. As a group, equities research analysts expect that Costco Wholesale will post 7.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were given a $0.57 dividend. The ex-dividend date was Thursday, February 7th. This represents a $2.28 annualized dividend and a dividend yield of 0.98%. Costco Wholesale’s dividend payout ratio is presently 33.38%.

In other Costco Wholesale news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the transaction, the vice president now directly owns 30,082 shares in the company, valued at approximately $6,932,998.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the transaction, the director now owns 48,589 shares in the company, valued at $11,272,648. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,587 shares of company stock worth $1,924,179. 0.21% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Lenox Wealth Management Inc. lifted its holdings in Costco Wholesale by 125.9% in the 4th quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Csenge Advisory Group purchased a new position in Costco Wholesale in the 3rd quarter valued at about $29,000. ERTS Wealth Advisors LLC purchased a new position in Costco Wholesale in the 4th quarter valued at about $30,000. Arbor Wealth Management LLC purchased a new position in Costco Wholesale in the 4th quarter valued at about $33,000. Finally, PRW Wealth Management LLC purchased a new position in Costco Wholesale in the 4th quarter valued at about $36,000. Institutional investors own 71.20% of the company’s stock.

Costco Wholesale Company Profile

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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