Costco Wholesale (NASDAQ:COST) Rating Reiterated by Telsey Advisory Group
Costco Wholesale (NASDAQ:COST)‘s stock had its “buy” rating restated by investment analysts at Telsey Advisory Group in a research report issued on Thursday, TipRanks reports. They presently have a $330.00 price objective on the retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 1.16% from the stock’s current price.
Other analysts have also issued research reports about the company. Guggenheim reiterated a “hold” rating on shares of Costco Wholesale in a report on Monday, June 29th. Royal Bank of Canada increased their price target on Costco Wholesale from $332.00 to $348.00 in a research note on Friday, May 29th. Robert W. Baird restated a “buy” rating and set a $335.00 price target on shares of Costco Wholesale in a research note on Thursday, April 9th. Wolfe Research started coverage on shares of Costco Wholesale in a report on Tuesday, March 31st. They set a “market perform” rating on the stock. Finally, Citigroup began coverage on shares of Costco Wholesale in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $310.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $323.00.
NASDAQ COST opened at $326.23 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.63 and a current ratio of 1.11. The firm’s 50 day moving average price is $304.66 and its 200-day moving average price is $303.47. Costco Wholesale has a 52-week low of $262.71 and a 52-week high of $328.98. The company has a market cap of $143.73 billion, a PE ratio of 39.02, a P/E/G ratio of 4.46 and a beta of 0.68.
In related news, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $309.31, for a total value of $1,546,550.00. Following the completion of the transaction, the insider now owns 15,632 shares of the company’s stock, valued at approximately $4,835,133.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 2,730 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $325.07, for a total value of $887,441.10. Following the transaction, the chief financial officer now owns 25,415 shares in the company, valued at approximately $8,261,654.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,380 shares of company stock valued at $9,095,879. Company insiders own 0.22% of the company’s stock.
Several hedge funds have recently made changes to their positions in COST. Your Advocates Ltd. LLP purchased a new stake in Costco Wholesale in the 1st quarter worth $28,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $29,000. Fortis Advisors LLC raised its position in shares of Costco Wholesale by 98.1% during the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Key Financial Inc purchased a new position in Costco Wholesale in the 1st quarter valued at about $32,000. Finally, Cox Capital Mgt LLC purchased a new position in Costco Wholesale in the 1st quarter valued at about $34,000. 68.87% of the stock is owned by institutional investors and hedge funds.
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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