Cowen Lowers Costco Wholesale (NASDAQ:COST) Price Target to $600.00

Costco Wholesale (NASDAQ:COST – Get Rating) had its price target reduced by analysts at Cowen from $650.00 to $600.00 in a research report issued to clients and investors on Monday, The Fly reports. Cowen’s price objective would indicate a potential upside of 24.97% from the company’s previous close.

A number of other research firms have also recently weighed in on COST. Credit Suisse Group reiterated a “neutral” rating and set a $520.00 price target (down from $550.00) on shares of Costco Wholesale in a report on Tuesday, December 20th. Truist Financial reduced their price target on shares of Costco Wholesale from $557.00 to $538.00 in a research note on Friday, December 9th. Bank of America lowered their price objective on shares of Costco Wholesale from $605.00 to $600.00 in a research report on Thursday, December 1st. UBS Group upped their price target on Costco Wholesale from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, January 6th. Finally, Telsey Advisory Group cut their target price on shares of Costco Wholesale from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, December 9th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $553.78.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $480.11 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.47 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $487.23 and a 200 day moving average price of $501.67. Costco Wholesale has a 12-month low of $406.51 and a 12-month high of $612.27. The stock has a market cap of $213.04 billion, a P/E ratio of 36.29, a PEG ratio of 3.52 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST – Get Rating) last released its quarterly earnings results on Thursday, December 8th. The retailer reported $3.10 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.04). The firm had revenue of $54.44 billion for the quarter, compared to analysts’ expectations of $54.67 billion. Costco Wholesale had a net margin of 2.55% and a return on equity of 28.83%. Sell-side analysts anticipate that Costco Wholesale will post 14.28 earnings per share for the current year.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $477.65, for a total transaction of $716,475.00. Following the completion of the sale, the chief financial officer now directly owns 27,818 shares of the company’s stock, valued at approximately $13,287,267.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Susan L. Decker sold 952 shares of Costco Wholesale stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $483.00, for a total value of $459,816.00. Following the sale, the director now owns 18,920 shares of the company’s stock, valued at $9,138,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard A. Galanti sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $477.65, for a total transaction of $716,475.00. Following the transaction, the chief financial officer now owns 27,818 shares in the company, valued at $13,287,267.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,452 shares of company stock worth $2,651,811. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schubert & Co boosted its stake in shares of Costco Wholesale by 73.3% in the second quarter. Schubert & Co now owns 52 shares of the retailer’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Cowa LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter worth $26,000. Moisand Fitzgerald Tamayo LLC grew its stake in shares of Costco Wholesale by 1,050.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 69 shares of the retailer’s stock worth $33,000 after purchasing an additional 63 shares during the period. Charter Oak Capital Management LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at about $41,000. Finally, Newfound Research LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at about $40,000. Institutional investors and hedge funds own 66.03% of the company’s stock.

Costco Wholesale Company Profile

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Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.