Costco Wholesale (NASDAQ:COST) had its target price raised by research analysts at Telsey Advisory Group from $220.00 to $230.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “outperform” rating on the retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 3.27% from the company’s previous close.
A number of other analysts also recently issued reports on the company. Wells Fargo & Co upgraded Costco Wholesale from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $191.42 to $188.91 in a research report on Monday, April 16th. JPMorgan Chase & Co. raised their price target on Costco Wholesale from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Royal Bank of Canada raised their price target on Costco Wholesale to $213.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 29th. Argus raised their price target on Costco Wholesale from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Finally, Loop Capital initiated coverage on Costco Wholesale in a research report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and a consensus target price of $205.03.
NASDAQ COST opened at $222.72 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The company has a market cap of $97.37 billion, a PE ratio of 38.27, a PEG ratio of 2.75 and a beta of 0.95. Costco Wholesale has a one year low of $150.06 and a one year high of $224.62.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. Costco Wholesale’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. sell-side analysts expect that Costco Wholesale will post 6.77 EPS for the current year.
In related news, VP Timothy L. Rose sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $205.19, for a total transaction of $512,975.00. Following the transaction, the vice president now owns 20,403 shares in the company, valued at approximately $4,186,491.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total value of $655,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,491 shares of company stock worth $8,754,977. Company insiders own 0.58% of the company’s stock.
A number of hedge funds have recently modified their holdings of COST. Park Avenue Securities LLC increased its position in Costco Wholesale by 12.8% during the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock worth $657,000 after buying an additional 359 shares in the last quarter. WINTON GROUP Ltd grew its position in Costco Wholesale by 63.1% during the first quarter. WINTON GROUP Ltd now owns 2,984 shares of the retailer’s stock valued at $562,000 after acquiring an additional 1,155 shares during the period. YHB Investment Advisors Inc. grew its position in Costco Wholesale by 1.3% during the second quarter. YHB Investment Advisors Inc. now owns 54,053 shares of the retailer’s stock valued at $11,296,000 after acquiring an additional 696 shares during the period. Peachtree Investment Advisors Inc. grew its position in Costco Wholesale by 4.1% during the second quarter. Peachtree Investment Advisors Inc. now owns 10,785 shares of the retailer’s stock valued at $2,254,000 after acquiring an additional 425 shares during the period. Finally, Creative Planning lifted its stake in shares of Costco Wholesale by 7.2% during the second quarter. Creative Planning now owns 71,263 shares of the retailer’s stock worth $14,892,000 after purchasing an additional 4,813 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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