Research analysts at Stifel Nicolaus hoisted their target price on shares of Costco Wholesale Corp. (NASDAQ:COST) from $107.00 to $130.00 in a report released on Monday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 8.91% from the stock’s previous close.
The analysts wrote, “COST is scheduled to report July sales results on Thursday, 8/8, before the market open. We expect headline comp of +5% (Street +4.6%), after +6% in June, +5% in May, and +4% in April. We expect core U.S. comp (ex-gas & f/x) of +5%, below +6% in June. The U.S. adjusted core comp comparison is roughly 500 bp more difficult than June (the most difficult 1-year comparison since January), but we note the a steady comp comparison on a 2-year basis. We believe solid comp trends continue as compares are somewhat easier than they look. Our READ survey continues to indicate a favorable consumer spending environment.”
Costco Wholesale Corp. (NASDAQ:COST) opened at 119.37 on Monday. Costco Wholesale Corp. has a 1-year low of $93.51 and a 1-year high of $119.50. The stock’s 50-day moving average is currently $114.0. The company has a market cap of $52.127 billion and a price-to-earnings ratio of 25.82.
Costco Wholesale Corp. (NASDAQ:COST) last released its earnings data on Thursday, May 30th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.01. The company had revenue of $23.55 billion for the quarter, compared to the consensus estimate of $24.23 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Costco Wholesale Corp. will post $4.56 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on COST. Analysts at Williams Capital initiated coverage on shares of Costco Wholesale Corp. in a research note to investors on Wednesday, July 24th. They set a “buy” rating and a $132.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Costco Wholesale Corp. in a research note to investors on Friday, July 19th. They now have a $123.00 price target on the stock. Finally, analysts at Ativo Research downgraded shares of Costco Wholesale Corp. from a “favorable” rating to a “neutral” rating in a research note to investors on Saturday, June 22nd.
Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Costco Wholesale Corp. has a consensus rating of “Buy” and a consensus target price of $116.26.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 7th.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.