Costco Wholesale (NASDAQ:COST) Stock Rating Reaffirmed by Jefferies Financial Group

Posted by on Jun 2nd, 2022

Costco Wholesale (NASDAQ:COST – Get Rating)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Financial Group in a research report issued on Thursday, The Fly reports. They currently have a $580.00 target price on the retailer’s stock, up from their prior target price of $560.00. Jefferies Financial Group’s price target would indicate a potential upside of 21.50% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $555.00 to $565.00 in a research note on Thursday, May 5th. Loop Capital cut their target price on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Citigroup cut their target price on shares of Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Oppenheimer cut their target price on shares of Costco Wholesale from $645.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Finally, Raymond James cut their target price on shares of Costco Wholesale from $645.00 to $560.00 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Buy” and a consensus target price of $569.58.

Shares of Costco Wholesale stock traded down $10.26 during trading hours on Thursday, reaching $477.35. The stock had a trading volume of 63,359 shares, compared to its average volume of 3,746,330. The stock’s 50 day moving average is $529.73 and its 200 day moving average is $529.94. The firm has a market capitalization of $211.57 billion, a PE ratio of 38.21, a PEG ratio of 3.86 and a beta of 0.71. Costco Wholesale has a twelve month low of $377.12 and a twelve month high of $612.27. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.

Costco Wholesale (NASDAQ:COST – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. The business had revenue of $52.60 billion during the quarter, compared to the consensus estimate of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.75 earnings per share. As a group, sell-side analysts predict that Costco Wholesale will post 12.9 earnings per share for the current year.

In other news, Director Kenneth D. Denman sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total value of $138,667.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total transaction of $2,265,160.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,248 shares of company stock worth $5,417,137. Company insiders own 0.22% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in Costco Wholesale during the 1st quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $30,000. Lansing Street Advisors acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $41,000. Finally, Mystic Asset Management Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $40,000. Institutional investors own 67.52% of the company’s stock.

About Costco Wholesale (Get Rating)

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.

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