StockNews.com Downgrades Costco Wholesale (NASDAQ:COST) to Hold

Costco Wholesale (NASDAQ:COSTGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

COST has been the subject of several other research reports. BMO Capital Markets reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research note on Monday, May 30th. Truist Financial lifted their price target on shares of Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Loop Capital decreased their price target 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 decreased their price target 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. Finally, Robert W. Baird decreased their price target on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $569.56.

Shares of NASDAQ COST opened at $454.80 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The company has a market cap of $201.46 billion, a P/E ratio of 35.81, a PEG ratio of 3.88 and a beta of 0.71. Costco Wholesale has a 1 year low of $377.12 and a 1 year high of $612.27. The firm has a 50-day simple moving average of $512.96 and a two-hundred day simple moving average of $525.84.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 earnings per share. As a group, equities research analysts expect that Costco Wholesale will post 13.02 EPS for the current year.

In other news, Director Kenneth D. Denman sold 250 shares of the business’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 4,498 shares of the business’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the sale, the insider now directly owns 13,108 shares in the company, valued at $7,904,124. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock worth $5,417,137 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in Costco Wholesale during the first quarter valued at $26,000. Evolution Advisers Inc. acquired a new position in Costco Wholesale during the fourth quarter valued at $28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Costco Wholesale during the fourth quarter valued at $30,000. Mystic Asset Management Inc. acquired a new position in Costco Wholesale during the fourth quarter valued at $40,000. Finally, Consolidated Planning Corp acquired a new position in shares of Costco Wholesale in the third quarter worth about $41,000. 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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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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