On March 7, 2023, Northcoast Research upgraded Costco Wholesale (NASDAQ:COST) from “Neutral” to “Buy,” with an average one-year price target of $558.10, suggesting a potential upside of 15.53% from its closing price of $483.08. Forecasts for Costco’s annual revenue stand at $249 billion, reflecting a 7.78% increase, with an expected non-GAAP EPS of $14.82.
Costco declared a quarterly dividend of $0.90 per share on January 19, 2023, with a payout to shareholders on February 17, marking a dividend yield of 0.75% at the current share price. Over the past five years, Costco’s dividend yield ranged from 0.54% to 1.20%, with a payout ratio of 0.27 indicating a healthy distribution of earnings.
Institutional interest in Costco remains high, with 4,090 funds reporting positions, an increase of 2.79% in the last quarter. Total institutional shares owned rose 1.00% to 333,536K shares, while the average portfolio weight for all funds has decreased by 11.95% to 0.77%.
