Morgan Stanley Boosts Costco Wholesale (NASDAQ:COST) Price Target to $950.00

Costco Wholesale (NASDAQ:COST) had its target price raised by Morgan Stanley from $855.00 to $950.00 in a research report report published on Monday, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the retailer’s stock.

Several other research analysts have also recently issued reports on COST. Barclays upped their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an equal weight rating in a research note on Thursday, July 11th. Oppenheimer boosted their price objective on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an outperform rating in a research report on Friday, September 6th. Tigress Financial increased their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a buy rating in a research report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an outperform rating in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $844.52.

Costco Wholesale Price Performance

Shares of COST opened at $900.40 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $859.92 and its 200-day simple moving average is $803.66. The firm has a market capitalization of $399.18 billion, a price-to-earnings ratio of 55.79, a PEG ratio of 5.33 and a beta of 0.80. Costco Wholesale has a twelve month low of $540.23 and a twelve month high of $918.93.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at $20,015,745. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,974 shares of company stock worth $4,252,856. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its stake in shares of Costco Wholesale by 57.3% in the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after buying an additional 228 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after purchasing an additional 135 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Costco Wholesale by 62.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock valued at $2,184,000 after purchasing an additional 1,274 shares in the last quarter. Advisor OS LLC lifted its position in shares of Costco Wholesale by 46.8% during the fourth quarter. Advisor OS LLC now owns 2,036 shares of the retailer’s stock worth $1,344,000 after purchasing an additional 649 shares during the last quarter. Finally, Quotient Wealth Partners LLC acquired a new position in Costco Wholesale in the fourth quarter worth about $1,957,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

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.