What's Going On With Costco Wholesale Stock?

Costco Wholesale Corporation COST shares are trading higher Friday after the company posted upbeat earnings after the market close on Thursday.

What To Know:

Costco reported quarterly earnings of $3.48 per share, beating the analyst consensus estimate of $3.42 and representing a 12.26% increase over earnings of $3.10 per share from the same period last year. The company reported quarterly sales of $57.80 billion, beating the analyst consensus estimate of $57.72 billion and representing a 6.18% increase year-over-year.

The company also declared a $15 special cash dividend payable on Jan. 12.

Several analysts have updated coverage of Costco following the earnings report:

• Raymond James analyst Bobby Griffin maintained Costco Wholesale with an Outperform and raised the price target from $580 to $670.
• Truist Securities analyst Scot Ciccarelli maintained Costco Wholesale  with a Buy and raised the price target from $619 to $693.
• Telsey Advisory Group analyst Joseph Feldman maintained Costco Wholesale with an Outperform and raised the price target from $625 to $700.

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COST Price Action: According to Benzinga Pro, Costco Wholesale shares are up by 3.2% at $651.01 at the time of publication.

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