Costco Wholesale (NASDAQ:COST) Price Target Cut to $525.00

Costco Wholesale (NASDAQ:COSTGet Rating) had its price objective lowered by research analysts at Morgan Stanley from $560.00 to $525.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the retailer’s stock. Morgan Stanley’s price target indicates a potential upside of 10.76% from the company’s previous close.

COST has been the subject of a number of other research reports. MKM Partners decreased their target price on Costco Wholesale from $517.00 to $512.00 in a report on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a research note on Friday, July 29th. DA Davidson upped their price target on shares of Costco Wholesale from $440.00 to $455.00 in a research report on Friday. Oppenheimer cut their price objective on Costco Wholesale from $600.00 to $550.00 in a research report on Friday. Finally, Raymond James increased their target price on Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $571.92.

Costco Wholesale Trading Down 2.7 %

Shares of COST stock traded down $13.18 during trading hours on Friday, hitting $473.99. 102,895 shares of the company were exchanged, compared to its average volume of 1,850,531. The firm has a fifty day moving average of $529.73 and a 200 day moving average of $519.85. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Costco Wholesale has a 1 year low of $406.51 and a 1 year high of $612.27. The firm has a market cap of $209.96 billion, a PE ratio of 37.30, a PEG ratio of 3.72 and a beta of 0.70.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings data on Thursday, September 22nd. The retailer reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.17 by $0.03. The company had revenue of $72.09 billion during the quarter, compared to analysts’ expectations of $72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.90 EPS. Analysts expect that Costco Wholesale will post 13.09 earnings per share for the current year.

Insider Buying and Selling at Costco Wholesale

In related news, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth D. Denman sold 300 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the completion of the sale, the director now owns 5,197 shares of the company’s stock, valued at approximately $2,711,170.96. The disclosure for this sale can be found here. Insiders sold 2,800 shares of company stock valued at $1,449,904 in the last quarter. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors have recently bought and sold shares of the business. Contravisory Investment Management Inc. bought a new position in shares of Costco Wholesale in the first quarter valued at about $26,000. Schubert & Co raised its position in shares of Costco Wholesale by 73.3% in the 2nd quarter. Schubert & Co now owns 52 shares of the retailer’s stock valued at $25,000 after acquiring an additional 22 shares during the period. Comprehensive Financial Consultants Institutional Inc. bought a new position in Costco Wholesale during the 4th quarter worth approximately $30,000. Lansing Street Advisors acquired a new position in Costco Wholesale during the first quarter valued at approximately $41,000. Finally, Mystic Asset Management Inc. bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $40,000. Institutional investors own 66.83% 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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