Daiwa Capital Markets Lowers Costco Wholesale (NASDAQ:COST) Price Target to $917.00

Costco Wholesale (NASDAQ:COST) had its price target dropped by Daiwa Capital Markets from $947.00 to $917.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the retailer’s stock. Daiwa Capital Markets’ price objective would suggest a potential upside of 6.56% from the company’s previous close.

A number of other analysts have also weighed in on the company. Wolfe Research started coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating for the company. HSBC dropped their target price on shares of Costco Wholesale from $1,060.00 to $1,045.00 and set a “hold” rating for the company in a research note on Friday. Citigroup lowered their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a report on Monday, September 29th. UBS Group reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday. Finally, Truist Financial dropped their target price on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating for the company in a research report on Friday. Eighteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $991.39.

Costco Wholesale Stock Down 2.7%

COST opened at $860.56 on Tuesday. Costco Wholesale has a twelve month low of $851.40 and a twelve month high of $1,078.23. The firm’s 50-day simple moving average is $915.22 and its 200-day simple moving average is $949.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.04. The firm has a market cap of $382.05 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 5.99 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 EPS for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The business had revenue of $67.31 billion for the quarter, compared to analyst estimates of $67.03 billion. During the same period in the prior year, the company earned $4.04 EPS. Costco Wholesale’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insider Activity

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the transaction, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,720 shares of company stock valued at $9,010,257. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors and hedge funds have recently modified their holdings of the business. CTC Alternative Strategies Ltd. raised its holdings in Costco Wholesale by 90.9% during the 3rd quarter. CTC Alternative Strategies Ltd. now owns 565 shares of the retailer’s stock worth $523,000 after buying an additional 269 shares during the period. Severin Investments LLC increased its position in shares of Costco Wholesale by 11.5% during the third quarter. Severin Investments LLC now owns 445 shares of the retailer’s stock worth $412,000 after acquiring an additional 46 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Costco Wholesale by 3.3% during the third quarter. Allworth Financial LP now owns 60,683 shares of the retailer’s stock worth $56,170,000 after acquiring an additional 1,935 shares during the period. IFP Advisors Inc lifted its position in Costco Wholesale by 3.7% in the 3rd quarter. IFP Advisors Inc now owns 21,356 shares of the retailer’s stock valued at $19,864,000 after acquiring an additional 763 shares in the last quarter. Finally, Stillwater Wealth Management Group acquired a new position in Costco Wholesale in the 3rd quarter worth $4,681,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.