Costco Wholesale (NASDAQ:COST) Given New $975.00 Price Target at Daiwa Securities Group

Costco Wholesale (NASDAQ:COSTGet Free Report) had its target price upped by Daiwa Securities Group from $917.00 to $975.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the retailer’s stock. Daiwa Securities Group’s price objective suggests a potential downside of 2.52% from the stock’s current price.

COST has been the topic of several other reports. HSBC lowered their price target on Costco Wholesale from $1,060.00 to $1,045.00 and set a “hold” rating on the stock in a research report on Friday, December 12th. Oppenheimer lifted their price objective on shares of Costco Wholesale from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday, December 29th. The Goldman Sachs Group lowered their price objective on Costco Wholesale from $1,171.00 to $1,088.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America began coverage on shares of Costco Wholesale in a research note on Friday, February 27th. They issued a “buy” rating and a $1,185.00 price objective for the company. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,039.13.

Read Our Latest Research Report on COST

Costco Wholesale Price Performance

NASDAQ COST opened at $1,000.21 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.18. Costco Wholesale has a 12-month low of $844.06 and a 12-month high of $1,067.08. The firm’s fifty day simple moving average is $964.39 and its two-hundred day simple moving average is $935.57. The firm has a market capitalization of $443.96 billion, a P/E ratio of 51.88, a P/E/G ratio of 4.76 and a beta of 1.00.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its earnings results on Thursday, March 5th. The retailer reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $0.03. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The company had revenue of $69.60 billion for the quarter, compared to analysts’ expectations of $68.96 billion. During the same quarter in the prior year, the company posted $4.02 earnings per share. Costco Wholesale’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insider Activity at Costco Wholesale

In related news, EVP James C. Klauer sold 1,500 shares of Costco Wholesale stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $939.00, for a total transaction of $1,408,500.00. Following the transaction, the executive vice president directly owned 44,837 shares of the company’s stock, valued at $42,101,943. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Russell D. Miller sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $916.32, for a total value of $1,374,480.00. Following the transaction, the executive vice president owned 8,240 shares of the company’s stock, valued at approximately $7,550,476.80. This trade represents a 15.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,915 shares of company stock valued at $6,317,097. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of hedge funds have recently bought and sold shares of COST. Rubicon Advisors GP purchased a new stake in Costco Wholesale in the 4th quarter valued at about $874,000. Corient Private Wealth LLC raised its holdings in shares of Costco Wholesale by 31.7% in the 4th quarter. Corient Private Wealth LLC now owns 859,419 shares of the retailer’s stock worth $741,440,000 after acquiring an additional 206,982 shares during the last quarter. Auto Owners Insurance Co increased its stake in Costco Wholesale by 86,134.1% in the 4th quarter. Auto Owners Insurance Co now owns 349,248 shares of the retailer’s stock worth $30,117,000 after acquiring an additional 348,843 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new stake in Costco Wholesale during the 4th quarter valued at about $28,000. Finally, Union Savings Bank bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $2,040,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

More Costco Wholesale News

Here are the key news stories impacting Costco Wholesale this week:

About Costco Wholesale

(Get Free Report)

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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