Deutsche Bank Aktiengesellschaft Cuts Costco Wholesale (NASDAQ:COST) Price Target to $525.00

Costco Wholesale (NASDAQ:COSTGet Rating) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $530.00 to $525.00 in a report published on Wednesday morning, The Fly reports.

COST has been the topic of several other research reports. Credit Suisse Group reaffirmed a hold rating and set a $570.00 price target on shares of Costco Wholesale in a research note on Friday, March 4th. Evercore ISI boosted their target price on shares of Costco Wholesale from $605.00 to $610.00 in a research report on Thursday, April 7th. StockNews.com assumed coverage on shares of Costco Wholesale in a research report on Thursday, March 31st. They issued a buy rating for the company. Zacks Investment Research raised shares of Costco Wholesale from a hold rating to a buy rating and set a $595.00 target price for the company in a research report on Monday, March 21st. Finally, Truist Financial dropped their target price on shares of Costco Wholesale from $634.00 to $503.00 and set a buy rating for the company in a research report on Thursday, May 19th. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Costco Wholesale has a consensus rating of Buy and an average price target of $566.44.

Shares of NASDAQ COST opened at $470.76 on Wednesday. Costco Wholesale has a 1 year low of $375.50 and a 1 year high of $612.27. The company has a market capitalization of $208.65 billion, a P/E ratio of 37.93, a P/E/G ratio of 3.56 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 0.51. The company has a 50 day simple moving average of $536.64 and a 200-day simple moving average of $531.32.

Costco Wholesale (NASDAQ:COSTGet Rating) last released its quarterly earnings results on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.01. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. The firm had revenue of $52.60 billion for the quarter, compared to the consensus estimate of $51.49 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, research analysts expect that Costco Wholesale will post 13.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, April 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s payout ratio is currently 29.01%.

In related news, Director Kenneth D. Denman sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total transaction of $2,265,160.00. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock worth $5,417,137 in the last 90 days. 0.22% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantum Private Wealth LLC grew its position in Costco Wholesale by 43.0% in the first quarter. Quantum Private Wealth LLC now owns 665 shares of the retailer’s stock worth $383,000 after acquiring an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Costco Wholesale by 62.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,111 shares of the retailer’s stock worth $638,000 after acquiring an additional 426 shares in the last quarter. First National Bank of Omaha grew its position in Costco Wholesale by 3.7% in the first quarter. First National Bank of Omaha now owns 34,807 shares of the retailer’s stock worth $20,044,000 after acquiring an additional 1,250 shares in the last quarter. L.M. Kohn & Company bought a new stake in Costco Wholesale in the first quarter worth approximately $8,588,000. Finally, M Holdings Securities Inc. bought a new stake in Costco Wholesale in the first quarter worth approximately $1,170,000. 67.52% of the stock is currently owned by hedge funds and other institutional investors.

About Costco Wholesale (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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