Cowen Lowers Costco Wholesale (NASDAQ:COST) Price Target to $600.00

Costco Wholesale (NASDAQ:COSTGet Rating) had its target price lowered by Cowen from $650.00 to $600.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the retailer’s stock. Cowen’s price target would indicate a potential upside of 21.92% from the stock’s current price.

COST has been the subject of several other research reports. Credit Suisse Group restated a “neutral” rating and set a $520.00 price target (down previously from $550.00) on shares of Costco Wholesale in a research note on Tuesday, December 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Costco Wholesale from $581.00 to $578.00 in a report on Tuesday, November 29th. Wells Fargo & Company lowered their price objective on Costco Wholesale from $490.00 to $450.00 in a report on Friday, December 9th. Truist Financial reduced their price target on Costco Wholesale from $557.00 to $538.00 in a report on Friday, December 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $550.00 target price on shares of Costco Wholesale in a report on Monday, December 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.78.

Costco Wholesale Trading Down 0.1 %

COST opened at $492.11 on Monday. The business’s 50-day simple moving average is $486.20 and its 200-day simple moving average is $501.59. The company has a market cap of $218.36 billion, a P/E ratio of 37.20, a PEG ratio of 3.52 and a beta of 0.77. Costco Wholesale has a one year low of $406.51 and a one year high of $612.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.47 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its quarterly earnings data on Thursday, December 8th. The retailer reported $3.10 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.04). Costco Wholesale had a net margin of 2.55% and a return on equity of 28.83%. The firm had revenue of $54.44 billion during the quarter, compared to analyst estimates of $54.67 billion. As a group, equities research analysts expect that Costco Wholesale will post 14.28 EPS for the current fiscal year.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $483.58, for a total value of $483,580.00. Following the sale, the executive vice president now directly owns 11,593 shares of the company’s stock, valued at approximately $5,606,142.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Costco Wholesale news, EVP Russell D. Miller sold 1,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $483.58, for a total transaction of $483,580.00. Following the transaction, the executive vice president now owns 11,593 shares of the company’s stock, valued at $5,606,142.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 952 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $483.00, for a total transaction of $459,816.00. Following the sale, the director now directly owns 18,920 shares of the company’s stock, valued at $9,138,360. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently modified their holdings of COST. Schubert & Co raised its position in Costco Wholesale by 73.3% in the second quarter. Schubert & Co now owns 52 shares of the retailer’s stock valued at $25,000 after purchasing an additional 22 shares during the period. Cowa LLC acquired a new position in Costco Wholesale during the 3rd quarter worth approximately $26,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in Costco Wholesale by 1,050.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 69 shares of the retailer’s stock worth $33,000 after acquiring an additional 63 shares during the period. Newfound Research LLC acquired a new stake in Costco Wholesale in the third quarter valued at approximately $40,000. Finally, Charter Oak Capital Management LLC purchased a new stake in shares of Costco Wholesale during the second quarter valued at approximately $41,000. 66.03% of the stock is owned by institutional investors and hedge funds.

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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