Costco Wholesale (NASDAQ:COST) Rating Increased to Hold at Royal Bank Of Canada

Costco Wholesale (NASDAQ:COST) was upgraded by analysts at Royal Bank Of Canada to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on COST. Sanford C. Bernstein raised their price objective on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. DA Davidson reiterated a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday, June 4th. BTIG Research reissued a “buy” rating and set a $1,125.00 target price on shares of Costco Wholesale in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Bank of America lifted their price target on shares of Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, May 29th. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,059.07.

Costco Wholesale Trading Up 1.1%

Shares of NASDAQ COST opened at $926.43 on Monday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $981.90 and its two-hundred day moving average price is $976.64. Costco Wholesale has a 52-week low of $844.06 and a 52-week high of $1,096.50. The stock has a market capitalization of $410.85 billion, a P/E ratio of 46.60, a PEG ratio of 4.44 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The firm had revenue of $70.53 billion during the quarter, compared to analyst estimates of $70.12 billion. During the same quarter in the previous year, the business posted $4.28 EPS. On average, analysts anticipate that Costco Wholesale will post 20.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Palisade Asset Management LLC boosted its position in Costco Wholesale by 1.4% during the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer’s stock worth $605,000 after acquiring an additional 10 shares during the period. Graybill Wealth Management LTD. increased its holdings in shares of Costco Wholesale by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer’s stock valued at $2,754,000 after purchasing an additional 10 shares during the period. Wealth Effects LLC increased its holdings in shares of Costco Wholesale by 1.2% during the first quarter. Wealth Effects LLC now owns 874 shares of the retailer’s stock valued at $871,000 after purchasing an additional 10 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Costco Wholesale by 1.8% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer’s stock valued at $549,000 after purchasing an additional 10 shares in the last quarter. Finally, First National Bank of Hutchinson raised its stake in shares of Costco Wholesale by 0.9% during the first quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock valued at $1,094,000 after purchasing an additional 10 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

More Costco Wholesale News

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

• Positive Sentiment: RBC Capital said Costco is one of retail’s best stories and can keep taking market share thanks to its differentiated membership model. RBC says Costco is one of retail’s best stories, but flags rich valuation
• Positive Sentiment: Analysts pointed to resilient June sales and surging digital growth, which supports the case that Costco’s underlying demand is still strong. Are Costco’s June Sales Enough to Defend Its Rich Valuation?
• Positive Sentiment: RBC’s coverage and a separate market note described Costco as a top industry player, which likely reinforced investor confidence in the stock. Costco (COST) Stock Climbs as RBC Names Retailer a Top Industry Player Despite Hold Rating

Costco Wholesale Company Profile

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.