Telsey Advisory Group Raises Costco Wholesale (NASDAQ:COST) Price Target to $390.00

Costco Wholesale (NASDAQ:COST) had its price target increased by Telsey Advisory Group from $385.00 to $390.00 in a research report report published on Friday, Briefing.com reports. Telsey Advisory Group currently has an outperform rating on the retailer’s stock.

A number of other equities analysts have also issued reports on the company. Citigroup raised their target price on Costco Wholesale from $345.00 to $365.00 and gave the stock a neutral rating in a research note on Thursday, September 3rd. BidaskClub upgraded Costco Wholesale from a sell rating to a hold rating in a research note on Thursday. DA Davidson began coverage on Costco Wholesale in a research note on Friday, August 14th. They set a neutral rating and a $363.00 price objective for the company. TheStreet upgraded Costco Wholesale from a c rating to a b- rating in a research note on Monday, June 1st. Finally, Tigress Financial reiterated a buy rating on shares of Costco Wholesale in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of Buy and an average target price of $359.00.

Shares of COST stock opened at $342.58 on Friday. The firm has a market capitalization of $151.26 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 4.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.11 and a quick ratio of 0.63. The business has a fifty day moving average of $342.50 and a 200 day moving average of $315.93. Costco Wholesale has a 1 year low of $271.28 and a 1 year high of $363.67.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 24th. The retailer reported $3.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.28. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $52.03 billion. Costco Wholesale had a return on equity of 22.60% and a net margin of 2.31%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $2.69 EPS. As a group, equities research analysts expect that Costco Wholesale will post 8.58 earnings per share for the current year.

In related news, VP James P. Murphy sold 5,000 shares of Costco Wholesale stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $326.00, for a total value of $1,630,000.00. Following the sale, the vice president now directly owns 32,771 shares in the company, valued at approximately $10,683,346. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan L. Decker sold 1,155 shares of Costco Wholesale stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $302.57, for a total value of $349,468.35. Following the completion of the sale, the director now owns 29,432 shares in the company, valued at $8,905,240.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,889 shares of company stock worth $5,915,919. 0.22% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Fortis Advisors LLC boosted its holdings in shares of Costco Wholesale by 98.1% in the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $32,000. Red Cedar Capital LLC raised its stake in shares of Costco Wholesale by 588.2% in the 2nd quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock valued at $35,000 after acquiring an additional 100 shares during the period. Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of Costco Wholesale by 144.2% in the 1st quarter. Mine & Arao Wealth Creation & Management LLC. now owns 127 shares of the retailer’s stock valued at $36,000 after acquiring an additional 75 shares during the period. Finally, Campbell Wealth Management purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 68.20% of the company’s stock.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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