Telsey Advisory Group Raises Costco Wholesale (NASDAQ:COST) Price Target to $1,000.00

Costco Wholesale (NASDAQ:COST) had its price objective lifted by investment analysts at Telsey Advisory Group from $925.00 to $1,000.00 in a research note issued to investors on Friday, Briefing.com reports. The brokerage currently has an “outperform” rating on the retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 10.93% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Melius Research initiated coverage on shares of Costco Wholesale in a report on Monday. They set a “hold” rating and a $950.00 price target on the stock. DA Davidson restated a “neutral” rating and issued a $780.00 target price on shares of Costco Wholesale in a research note on Friday, September 6th. Barclays raised their price target on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Tigress Financial boosted their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price objective for the company from $860.00 to $890.00 in a research report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $861.37.

Costco Wholesale Stock Down 0.8 %

Shares of Costco Wholesale stock opened at $901.44 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale has a 1 year low of $540.23 and a 1 year high of $923.83. The stock has a 50-day moving average price of $869.72 and a 200 day moving average price of $814.95. The company has a market cap of $399.64 billion, a P/E ratio of 55.85, a P/E/G ratio of 5.57 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $4.86 earnings per share. As a group, analysts expect that Costco Wholesale will post 16.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently added to or reduced their stakes in COST. Centaurus Financial Inc. boosted its position in Costco Wholesale by 19.2% in the 2nd quarter. Centaurus Financial Inc. now owns 5,179 shares of the retailer’s stock valued at $4,402,000 after buying an additional 833 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Costco Wholesale by 9.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 389,883 shares of the retailer’s stock valued at $331,397,000 after acquiring an additional 33,720 shares during the period. Summit Wealth Partners LLC bought a new position in Costco Wholesale in the second quarter valued at about $206,000. SS&H Financial Advisors Inc. increased its position in Costco Wholesale by 5.4% in the second quarter. SS&H Financial Advisors Inc. now owns 2,907 shares of the retailer’s stock worth $2,470,000 after purchasing an additional 150 shares during the period. Finally, Cannon Financial Strategists Inc. acquired a new stake in Costco Wholesale in the second quarter worth about $212,000. 68.48% of the stock is owned by institutional investors.

About Costco Wholesale

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.