Costco Wholesale (NASDAQ:COST) Stock Keeps Buy Rating at Argus

Costco Wholesale (NASDAQ:COST)‘s stock had its “buy” rating reiterated by stock analysts at Argus in a note issued to investors on Monday, Benzinga reports. They currently have a $1,230.00 price objective on the retailer’s stock. Argus’ price target would suggest a potential upside of 34.64% from the company’s current price.

A number of other research firms have also commented on COST. Freedom Broker decreased their price objective on shares of Costco Wholesale from $1,030.00 to $1,010.00 and set a “buy” rating for the company in a research note on Friday, September 25th. HC Wainwright reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Monday, June 1st. HSBC raised shares of Costco Wholesale to a “buy” rating in a research note on Friday, September 25th. DA Davidson raised their price objective on shares of Costco Wholesale from $1,000.00 to $1,040.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Finally, Truist Financial decreased their price objective on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating for the company in a research note on Friday, September 25th. Twenty-two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,046.27.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $1.41 during mid-day trading on Monday, hitting $913.53. The company’s stock had a trading volume of 908,429 shares, compared to its average volume of 2,194,836. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $405.13 billion, a P/E ratio of 43.98, a P/E/G ratio of 3.89 and a beta of 0.88. Costco Wholesale has a twelve month low of $844.06 and a twelve month high of $1,096.50. The stock’s fifty day moving average price is $933.05 and its two-hundred day moving average price is $965.29.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.21. The firm had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.87 earnings per share. Research analysts forecast that Costco Wholesale will post 22.86 earnings per share for the current year.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the sale, the executive vice president owned 7,134 shares in the company, valued at $6,534,244.62. This represents a 23.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $28,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Costco Wholesale during the 4th quarter valued at $27,000. Burk Holdings LLC bought a new position in shares of Costco Wholesale during the 2nd quarter valued at $30,000. Manning & Napier Advisors LLC bought a new position in shares of Costco Wholesale during the 2nd quarter valued at $30,000. Finally, Lifetime Wealth Management P.C. bought a new position in shares of Costco Wholesale during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells a broad selection of merchandise, including groceries, fresh foods, beverages, appliances, electronics, furniture, apparel, jewelry, hardware, and seasonal products. It also offers services such as gasoline, pharmacies, optical departments, hearing-aid centers, food courts, travel services, and business delivery in selected markets.

Costco markets many products under its private-label Kirkland Signature brand and sells merchandise through warehouse locations and e-commerce platforms.