Costco Wholesale (NASDAQ:COST) Given Outperform Rating at Telsey Advisory Group

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $1,100.00 price objective on the retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 24.37% from the stock’s previous close.

A number of other research firms have also weighed in on COST. Truist Financial cut their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a report on Friday, September 26th. Gordon Haskett lowered their price objective on shares of Costco Wholesale from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Costco Wholesale in a report on Friday. BTIG Research initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,022.48.

Costco Wholesale Trading Up 1.2%

Shares of COST stock opened at $884.48 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $392.67 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 5.93 and a beta of 1.00. Costco Wholesale has a 12-month low of $871.09 and a 12-month high of $1,078.23. The stock’s 50-day moving average price is $916.84 and its 200-day moving average price is $951.96.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 EPS for the quarter, beating analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $67.31 billion during the quarter, compared to analyst estimates of $67.03 billion. During the same period in the prior year, the company earned $4.04 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $930.13, for a total value of $2,232,312.00. Following the transaction, the executive vice president owned 2,000 shares of the company’s stock, valued at $1,860,260. This represents a 54.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares in the company, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,720 shares of company stock worth $9,010,257. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Luminist Capital LLC increased its position in shares of Costco Wholesale by 9.4% during the first quarter. Luminist Capital LLC now owns 128 shares of the retailer’s stock worth $122,000 after acquiring an additional 11 shares during the period. Birchbrook Inc. grew its stake in Costco Wholesale by 2.5% in the first quarter. Birchbrook Inc. now owns 456 shares of the retailer’s stock worth $431,000 after purchasing an additional 11 shares in the last quarter. Ridgewood Investments LLC increased its holdings in Costco Wholesale by 7.4% during the 2nd quarter. Ridgewood Investments LLC now owns 159 shares of the retailer’s stock worth $157,000 after purchasing an additional 11 shares during the period. Wagner Wealth Management LLC raised its position in Costco Wholesale by 3.4% during the 2nd quarter. Wagner Wealth Management LLC now owns 330 shares of the retailer’s stock valued at $326,000 after purchasing an additional 11 shares in the last quarter. Finally, Hobbs Wealth Management LLC lifted its holdings in shares of Costco Wholesale by 4.4% in the 2nd quarter. Hobbs Wealth Management LLC now owns 262 shares of the retailer’s stock worth $259,000 after buying an additional 11 shares during the period. 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.