Costco Wholesale (NASDAQ:COST) PT Raised to $962.00

Costco Wholesale (NASDAQ:COST) had its price objective raised by stock analysts at Bank of America from $874.00 to $962.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the retailer’s stock. Bank of America‘s price objective would suggest a potential upside of 14.13% from the company’s current price.

A number of other analysts also recently commented on COST. Oppenheimer increased their price objective on shares of Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $875.00 price objective (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Citigroup increased their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Finally, Loop Capital increased their price objective on shares of Costco Wholesale from $890.00 to $940.00 and gave the company a “buy” rating in a report on Friday, June 14th. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $799.33.

Costco Wholesale Stock Down 0.4 %

COST opened at $842.90 on Thursday. Costco Wholesale has a twelve month low of $530.56 and a twelve month high of $896.67. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $829.88 and a 200 day moving average price of $753.54. The company has a market cap of $373.69 billion, a PE ratio of 52.22, a price-to-earnings-growth ratio of 5.85 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts expect that Costco Wholesale will post 15.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirador Capital Partners LP boosted its position in Costco Wholesale by 0.7% in the 2nd quarter. Mirador Capital Partners LP now owns 4,464 shares of the retailer’s stock valued at $3,794,000 after buying an additional 33 shares during the period. Retirement Planning Group LLC lifted its position in shares of Costco Wholesale by 4.4% during the 2nd quarter. Retirement Planning Group LLC now owns 33,291 shares of the retailer’s stock worth $28,297,000 after purchasing an additional 1,416 shares during the last quarter. Inspirion Wealth Advisors LLC lifted its position in shares of Costco Wholesale by 6.8% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 722 shares of the retailer’s stock worth $614,000 after purchasing an additional 46 shares during the last quarter. Cornerstone Wealth Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth $289,000. Finally, Fermata Advisors LLC lifted its position in shares of Costco Wholesale by 22.0% during the 2nd quarter. Fermata Advisors LLC now owns 1,957 shares of the retailer’s stock worth $1,663,000 after purchasing an additional 353 shares during the last quarter. 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.