Costco Wholesale (NASDAQ:COST) Price Target Cut to $1,100.00 by Analysts at JPMorgan Chase & Co.

Costco Wholesale (NASDAQ:COST) had its price objective cut by JPMorgan Chase & Co. from $1,110.00 to $1,100.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the retailer’s stock.

Several other analysts also recently commented on the company. Guggenheim reissued a “neutral” rating on shares of Costco Wholesale in a research note on Monday, June 1st. Oppenheimer lifted their target price on Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group upped their price target on Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Roth Capital increased their price target on Costco Wholesale from $769.00 to $781.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Finally, DA Davidson restated a “neutral” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research note on Thursday, June 4th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,061.10.

Costco Wholesale Stock Down 4.2%

Shares of NASDAQ COST opened at $912.97 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The company has a 50-day moving average price of $985.31 and a 200-day moving average price of $975.67. The stock has a market capitalization of $404.88 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.62 and a beta of 0.88. Costco Wholesale has a 1 year low of $844.06 and a 1 year high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The business had revenue of $70.53 billion during the quarter, compared to analyst estimates of $70.12 billion. During the same quarter in the prior year, the company earned $4.28 EPS. On average, equities research analysts forecast that Costco Wholesale will post 20.38 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Costco Wholesale’s payout ratio is 29.58%.

Insiders Place Their Bets

In related news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares in the company, valued at approximately $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. bought a new position in Costco Wholesale during the fourth quarter valued at $28,000. Lifetime Wealth Management P.C. purchased a new stake in Costco Wholesale in the fourth quarter worth $28,000. Manning & Napier Advisors LLC increased its position in Costco Wholesale by 750.0% in the first quarter. Manning & Napier Advisors LLC now owns 34 shares of the retailer’s stock worth $34,000 after buying an additional 30 shares during the last quarter. Finally, Entrust Financial LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $31,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale News Summary

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Bank of America and other analysts reiterated bullish views, saying Costco’s value-focused model and affluent membership base should continue to support market share gains. Costco shares fall after June sales update, Bank of America remains bullish
• Positive Sentiment: Costco posted strong June net sales of $29.24 billion and continued to see robust digital and U.S. demand, which suggests the core business remains healthy. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Neutral Sentiment: Costco declared a quarterly dividend, which is supportive for income investors but unlikely to be a major near-term stock mover. Costco Wholesale Corporation Reports June Sales Results and Announces Quarterly Cash Dividend
• Negative Sentiment: A proposed class-action lawsuit alleging Costco’s protein powder contained toxic heavy metals could create legal and reputational overhang. Costco faces class-action lawsuit alleging protein powder was laced with toxic heavy metals

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.