Telsey Advisory Group Reiterates “Outperform” Rating for Costco Wholesale (NASDAQ:COST)

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating reaffirmed by Telsey Advisory Group in a research report issued on Monday, Benzinga reports. They presently have a $575.00 target price on the retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 3.35% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on COST. Stifel Nicolaus restated a “buy” rating and set a $575.00 price target on shares of Costco Wholesale in a report on Thursday, August 31st. Jefferies Financial Group upped their price objective on shares of Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Truist Financial raised their target price on Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com started coverage on Costco Wholesale in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, Robert W. Baird raised their price objective on Costco Wholesale from $535.00 to $550.00 in a research note on Friday, July 7th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $566.63.

Costco Wholesale Stock Performance

COST stock opened at $556.36 on Monday. The firm has a market cap of $246.52 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 4.17 and a beta of 0.79. The company has a current ratio of 1.08, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $551.21 and a 200-day moving average price of $519.89. Costco Wholesale has a 1-year low of $447.90 and a 1-year high of $571.16.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 1,565 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the transaction, the director now owns 13,329 shares of the company’s stock, valued at $7,104,357. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COST. United Bank raised its stake in shares of Costco Wholesale by 9.2% during the first quarter. United Bank now owns 5,254 shares of the retailer’s stock valued at $3,026,000 after acquiring an additional 444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Costco Wholesale by 33.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,691 shares of the retailer’s stock valued at $220,948,000 after purchasing an additional 96,566 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Costco Wholesale by 87.1% during the 1st quarter. Covestor Ltd now owns 232 shares of the retailer’s stock valued at $134,000 after purchasing an additional 108 shares during the last quarter. Bridgefront Capital LLC bought a new position in Costco Wholesale during the first quarter valued at approximately $333,000. Finally, Next Century Growth Investors LLC boosted its position in shares of Costco Wholesale by 0.9% during the 1st quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock valued at $1,965,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 66.31% of the company’s stock.

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, 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.