Truist Financial Boosts Costco Wholesale (NASDAQ:COST) Price Target to $935.00

Costco Wholesale (NASDAQ:COST) had its target price increased by analysts at Truist Financial from $909.00 to $935.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the retailer’s stock. Truist Financial’s price objective suggests a potential downside of 6.94% from the company’s current price.

Several other research firms have also recently weighed in on COST. Loop Capital boosted their price objective on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer reissued an “outperform” rating and set a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday. Roth Mkm raised their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research note on Friday. TD Cowen upped their price objective on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus raised their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $981.86.

Costco Wholesale Stock Up 1.7 %

Shares of NASDAQ COST traded up $16.31 during midday trading on Friday, hitting $1,004.70. The stock had a trading volume of 969,528 shares, compared to its average volume of 1,918,646. The company has a market cap of $445.15 billion, a P/E ratio of 60.63, a PEG ratio of 6.05 and a beta of 0.82. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $924.72 and its 200-day moving average is $883.45. Costco Wholesale has a 52 week low of $630.30 and a 52 week high of $1,007.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same period last year, the business posted $4.86 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts predict that Costco Wholesale will post 17.77 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock worth $9,826,115 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after buying an additional 32,074 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after acquiring an additional 932 shares during the period. Hudson Value Partners LLC lifted its holdings in shares of Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after acquiring an additional 568 shares during the last quarter. Nwam LLC bought a new position in Costco Wholesale during the 3rd quarter valued at about $20,056,000. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in Costco Wholesale by 66.9% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after purchasing an additional 1,238 shares during the period. 68.48% of the stock is owned by institutional investors.

About Costco Wholesale

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.