Evercore ISI Cuts Costco Wholesale (NASDAQ:COST) Price Target to $550.00

Costco Wholesale (NASDAQ:COSTGet Rating) had its target price reduced by equities research analysts at Evercore ISI from $600.00 to $550.00 in a report released on Friday, The Fly reports. Evercore ISI’s price target points to a potential upside of 15.56% from the company’s current price.

Several other research firms have also weighed in on COST. Robert W. Baird reiterated an “outperform” rating and issued a $575.00 price objective on shares of Costco Wholesale in a research note on Friday, September 2nd. Truist Financial lifted their price objective on shares of Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Loop Capital lowered their price objective on shares of Costco Wholesale from $610.00 to $585.00 in a research note on Thursday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.32.

Costco Wholesale Trading Down 2.3 %

Shares of NASDAQ COST traded down $11.22 during midday trading on Friday, reaching $475.95. The stock had a trading volume of 41,818 shares, compared to its average volume of 1,850,531. The firm has a market cap of $210.83 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. Costco Wholesale has a twelve month low of $406.51 and a twelve month high of $612.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The company’s 50 day moving average price is $529.73 and its 200 day moving average price is $519.85.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The retailer reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.17 by $0.03. The firm had revenue of $72.09 billion for the quarter, compared to the consensus estimate of $72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.90 EPS. As a group, sell-side analysts expect that Costco Wholesale will post 13.09 EPS for the current year.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the sale, the chief financial officer now directly owns 25,750 shares in the company, valued at $13,019,200. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock valued at $1,449,904 over the last three months. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently modified their holdings of COST. Norges Bank purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $2,323,746,000. State Street Corp lifted its holdings in shares of Costco Wholesale by 10.2% in the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $10,389,605,000 after buying an additional 1,697,920 shares in the last quarter. Public Investment Fund bought a new position in shares of Costco Wholesale in the second quarter worth approximately $496,810,000. BlackRock Inc. increased its position in shares of Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after purchasing an additional 944,199 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Costco Wholesale by 19.1% in the second quarter. Wells Fargo & Company MN now owns 3,045,401 shares of the retailer’s stock worth $1,459,600,000 after purchasing an additional 488,601 shares during the last quarter. 66.83% of the stock is owned by hedge funds and other institutional investors.

About Costco Wholesale

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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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