Costco Wholesale (NASDAQ:COST) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Costco Wholesale (NASDAQ:COST) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other analysts have also issued reports on COST. Bank of America lifted their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a buy rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised 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. Stifel Nicolaus upped their price target on Costco Wholesale from $910.00 to $915.00 and gave the company a buy rating in a research note on Friday. Robert W. Baird raised their price objective on Costco Wholesale from $850.00 to $975.00 and gave the stock an outperform rating in a research report on Thursday, July 11th. Finally, Telsey Advisory Group reissued an outperform rating and set a $925.00 price objective on shares of Costco Wholesale in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of Moderate Buy and a consensus target price of $828.73.

Costco Wholesale Stock Down 1.0 %

Shares of NASDAQ COST opened at $876.68 on Friday. The company’s 50-day simple moving average is $857.45 and its 200-day simple moving average is $799.68. Costco Wholesale has a 52-week low of $540.23 and a 52-week high of $918.93. The firm has a market cap of $388.66 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

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 issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Richard A. Galanti sold 500 shares of the firm’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 in the company, valued at approximately $20,015,745. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel M. Hines sold 1,500 shares of the business’s 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 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 4,974 shares of company stock valued at $4,252,856 in the last ninety days. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the business. Oak Asset Management LLC increased its stake in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC increased its position in Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after acquiring an additional 12 shares during the period. Bedel Financial Consulting Inc. raised its stake in Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after acquiring an additional 13 shares during the last quarter. Boltwood Capital Management lifted its position in Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after acquiring an additional 13 shares during the period. Finally, LifePro Asset Management grew its stake in shares of Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares during the last quarter. 68.48% of the stock is 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.