Costco Wholesale (NASDAQ:COST) Price Target Raised to $650.00

Costco Wholesale (NASDAQ:COST – Get Free Report) had its price target hoisted by investment analysts at Roth Mkm from $601.00 to $650.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the retailer’s stock. Roth Mkm’s price target suggests a potential downside of 11.12% from the company’s current price.

Several other research firms also recently issued reports on COST. Stifel Nicolaus boosted their price target on Costco Wholesale from $615.00 to $675.00 and gave the company a “buy” rating in a research note on Friday, December 15th. DA Davidson boosted their price objective on shares of Costco Wholesale from $570.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, December 15th. Northcoast Research downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 price target for the company. in a research report on Wednesday, December 20th. Citigroup boosted their price target on Costco Wholesale from $585.00 to $630.00 and gave the company a “neutral” rating in a research note on Friday, December 15th. Finally, Raymond James lifted their price objective on Costco Wholesale from $580.00 to $670.00 and gave the company an “outperform” rating in a report on Friday, December 15th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.28.

Read Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Trading Down 0.1 %

Costco Wholesale stock opened at $731.31 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The stock has a 50-day simple moving average of $730.68 and a 200 day simple moving average of $655.35. The stock has a market capitalization of $324.34 billion, a P/E ratio of 47.83, a PEG ratio of 5.05 and a beta of 0.77. Costco Wholesale has a 52 week low of $476.75 and a 52 week high of $787.08.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. During the same period in the previous year, the firm earned $3.30 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that Costco Wholesale will post 15.86 earnings per share for the current year.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the transaction, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at $4,593,803.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Caton Frates sold 740 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares in the company, valued at $4,593,803.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Craig Jelinek sold 8,000 shares of Costco Wholesale stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the transaction, the director now directly owns 216,212 shares of the company’s stock, valued at $148,306,297.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,182 shares of company stock worth $9,809,558. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Costco Wholesale by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after buying an additional 485,051 shares in the last quarter. Morgan Stanley increased its holdings in shares of Costco Wholesale by 18.0% in the fourth quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock valued at $3,941,708,000 after purchasing an additional 1,315,174 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Costco Wholesale by 118,320.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after purchasing an additional 7,390,278 shares during the last quarter. Norges Bank acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $3,628,694,000. Finally, Northern Trust Corp boosted its position in Costco Wholesale by 4.3% in the third quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock valued at $2,901,040,000 after buying an additional 210,586 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

About Costco Wholesale

(Get Free Report)

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.

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