Costco Wholesale (NASDAQ:COST) Given New $935.00 Price Target at Truist Financial

Costco Wholesale (NASDAQ:COST) had its price target raised by Truist Financial from $909.00 to $935.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the retailer’s stock. Truist Financial’s target price points to a potential downside of 5.49% from the company’s current price.

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein began coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $850.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays upped their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, UBS Group lifted their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $988.46.

Costco Wholesale Trading Up 0.1 %

Shares of COST opened at $989.35 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $926.84 and a 200 day moving average price of $885.20. Costco Wholesale has a 12-month low of $630.30 and a 12-month high of $1,007.80. The firm has a market capitalization of $438.36 billion, a P/E ratio of 58.09, a P/E/G ratio of 6.05 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the firm earned $4.86 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Costco Wholesale will post 17.77 EPS for the current year.

Insider Buying and Selling

In other news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,016 shares of company stock worth $9,826,115. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale in the 3rd quarter valued at approximately $29,000. Financial Connections Group Inc. boosted its holdings in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Costco Wholesale during the second quarter worth about $50,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale during the third quarter worth about $58,000. Finally, Fairway Wealth LLC increased its position in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.