Telsey Advisory Group Reaffirms Outperform Rating for Costco Wholesale (NASDAQ:COST)

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $1,100.00 price target on the retailer’s stock. Telsey Advisory Group’s price target points to a potential upside of 14.18% from the company’s current price.

Several other equities research analysts have also commented on COST. Cfra Research upgraded shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research note on Friday, April 4th. Roth Mkm increased their price target on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Truist Financial upped their price objective on Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Finally, Evercore ISI lifted their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,024.03.

Costco Wholesale Price Performance

COST stock opened at $963.41 on Thursday. The business has a 50-day simple moving average of $982.89 and a two-hundred day simple moving average of $949.47. Costco Wholesale has a 52-week low of $702.00 and a 52-week high of $1,078.24. The company has a market capitalization of $427.45 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Research analysts expect that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insider Activity

In related news, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. The trade was a 11.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. The trade was a 8.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,600 shares of company stock worth $5,215,915. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp purchased a new position in Costco Wholesale in the fourth quarter worth $8,430,000. GAMMA Investing LLC lifted its stake in Costco Wholesale by 15.0% during the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares during the last quarter. Dale Q Rice Investment Management Ltd purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $984,000. Stanich Group LLC bought a new position in shares of Costco Wholesale during the 4th quarter valued at about $214,000. Finally, Everence Capital Management Inc. raised its holdings in shares of Costco Wholesale by 15.4% during the 4th quarter. Everence Capital Management Inc. now owns 11,913 shares of the retailer’s stock valued at $10,916,000 after buying an additional 1,590 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

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.