Costco Wholesale (NASDAQ:COST) Now Covered by Analysts at Credit Suisse Group

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Credit Suisse Group assumed coverage on shares of Costco Wholesale (NASDAQ:COST) in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $328.00 target price on the retailer’s stock.

A number of other analysts have also recently issued reports on COST. Tigress Financial reissued a buy rating on shares of Costco Wholesale in a research report on Friday, January 31st. Oppenheimer raised Costco Wholesale from a market perform rating to an outperform rating and lifted their price objective for the company from $300.00 to $335.00 in a research report on Tuesday, January 21st. They noted that the move was a valuation call. Royal Bank of Canada boosted their price target on Costco Wholesale from $329.00 to $334.00 and gave the stock an outperform rating in a research report on Friday, December 13th. Loop Capital reaffirmed a buy rating and issued a $345.00 price target on shares of Costco Wholesale in a research report on Monday, February 3rd. Finally, Raymond James boosted their price target on Costco Wholesale from $300.00 to $315.00 and gave the stock an outperform rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $303.83.

COST traded up $0.11 during trading on Thursday, reaching $318.31. 1,113,450 shares of the stock traded hands, compared to its average volume of 2,003,878. The stock has a market cap of $138.62 billion, a price-to-earnings ratio of 37.76, a price-to-earnings-growth ratio of 4.50 and a beta of 0.90. Costco Wholesale has a fifty-two week low of $214.04 and a fifty-two week high of $319.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.01 and a quick ratio of 0.49. The stock’s 50-day simple moving average is $303.41 and its two-hundred day simple moving average is $294.49.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, December 12th. The retailer reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $37.04 billion during the quarter, compared to analysts’ expectations of $37.40 billion. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Research analysts anticipate that Costco Wholesale will post 8.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. Costco Wholesale’s payout ratio is presently 31.75%.

In other news, Director Susan L. Decker sold 3,850 shares of Costco Wholesale stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $300.41, for a total value of $1,156,578.50. Following the transaction, the director now directly owns 34,582 shares in the company, valued at $10,388,778.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of Costco Wholesale stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $293.99, for a total value of $587,980.00. Following the completion of the transaction, the vice president now owns 59,679 shares in the company, valued at $17,545,029.21. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of COST. Tocqueville Asset Management L.P. grew its stake in shares of Costco Wholesale by 0.5% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 6,422 shares of the retailer’s stock valued at $1,850,000 after purchasing an additional 34 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Costco Wholesale by 1.2% in the 4th quarter. Trust Co. of Toledo NA OH now owns 2,786 shares of the retailer’s stock valued at $818,000 after purchasing an additional 34 shares during the period. Doyle Wealth Management grew its stake in shares of Costco Wholesale by 1.8% in the 4th quarter. Doyle Wealth Management now owns 1,904 shares of the retailer’s stock valued at $560,000 after purchasing an additional 34 shares during the period. Crewe Advisors LLC grew its stake in shares of Costco Wholesale by 9.2% in the 3rd quarter. Crewe Advisors LLC now owns 415 shares of the retailer’s stock valued at $120,000 after purchasing an additional 35 shares during the period. Finally, Bernicke Wealth Management Ltd. grew its stake in shares of Costco Wholesale by 0.8% in the 4th quarter. Bernicke Wealth Management Ltd. now owns 4,567 shares of the retailer’s stock valued at $1,342,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.

About Costco Wholesale

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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