Costco Wholesale (NASDAQ:COST) Price Target Raised to $935.00

Costco Wholesale (NASDAQ:COST) had its price target boosted by equities researchers at Truist Financial from $909.00 to $935.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the retailer’s stock. Truist Financial’s price objective would indicate a potential downside of 6.94% from the stock’s previous close.

A number of other equities analysts also recently commented on COST. Melius Research started coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. TD Cowen boosted their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Telsey Advisory Group restated an “outperform” rating and set a $1,050.00 price objective on shares of Costco Wholesale in a research note on Friday. DA Davidson reiterated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price target for the company from $860.00 to $890.00 in a research report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $981.86.

Costco Wholesale Trading Up 1.7 %

Shares of NASDAQ:COST traded up $16.31 during trading on Friday, reaching $1,004.70. 969,528 shares of the company were exchanged, compared to its average volume of 1,918,646. Costco Wholesale has a 12-month low of $630.30 and a 12-month high of $1,007.80. The firm has a market capitalization of $445.15 billion, a PE ratio of 60.63, a P/E/G ratio of 6.05 and a beta of 0.82. The business’s fifty day simple moving average is $924.72 and its 200-day simple moving average is $883.45. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.86 EPS. On average, research analysts anticipate that Costco Wholesale will post 17.77 EPS for the current year.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock worth $9,826,115 over the last quarter. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Summit Securities Group LLC acquired a new position in Costco Wholesale during the second quarter worth $50,000. Fairway Wealth LLC lifted its holdings in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at about $58,000. Institutional investors and hedge funds 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.