Telsey Advisory Group Reaffirms Outperform Rating for Costco Wholesale (NASDAQ:COST)

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating reaffirmed by Telsey Advisory Group in a report issued on Monday,Benzinga reports. They currently have a $1,100.00 price target on the retailer’s stock. Telsey Advisory Group’s target price suggests a potential upside of 19.30% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. reduced their target price on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Evercore ISI decreased their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. DA Davidson reiterated a “neutral” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. Finally, Oppenheimer reduced their price objective on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Nineteen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.75.

Costco Wholesale Trading Up 1.1%

Shares of COST stock opened at $922.03 on Monday. Costco Wholesale has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock has a 50 day simple moving average of $921.51 and a two-hundred day simple moving average of $957.45. The company has a market cap of $408.63 billion, a P/E ratio of 50.63, a PEG ratio of 6.19 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.15 EPS. Research analysts forecast that Costco Wholesale will post 18.03 earnings per share for the current year.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Richard Wilcox sold 2,400 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the transaction, the executive vice president directly owned 2,000 shares in the company, valued at $1,860,260. The trade was a 54.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,720 shares of company stock worth $9,010,257. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Costco Wholesale by 3.3% during the third quarter. Allworth Financial LP now owns 60,683 shares of the retailer’s stock valued at $56,170,000 after acquiring an additional 1,935 shares during the last quarter. IFP Advisors Inc boosted its position in Costco Wholesale by 3.7% in the third quarter. IFP Advisors Inc now owns 21,356 shares of the retailer’s stock worth $19,864,000 after purchasing an additional 763 shares during the last quarter. Stillwater Wealth Management Group bought a new position in Costco Wholesale in the 3rd quarter valued at $4,681,000. Groupama Asset Managment increased its position in shares of Costco Wholesale by 0.7% during the 3rd quarter. Groupama Asset Managment now owns 14,974 shares of the retailer’s stock valued at $13,860,000 after purchasing an additional 111 shares during the last quarter. Finally, Investment Research Partners LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $1,336,000. 68.48% of the stock is owned by institutional investors.

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.