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

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating restated by research analysts at Telsey Advisory Group in a research report issued on Friday,Benzinga reports. They presently have a $1,100.00 price target on the retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 20.01% from the company’s previous close.

A number of other research firms have also issued reports on COST. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Barclays lifted their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. UBS Group lifted their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Stock Up 0.7 %

Costco Wholesale stock opened at $916.58 on Friday. The firm has a market capitalization of $406.87 billion, a P/E ratio of 53.82, a P/E/G ratio of 6.02 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. Costco Wholesale has a twelve month low of $640.51 and a twelve month high of $1,008.25. The stock’s fifty day simple moving average is $943.38 and its 200-day simple moving average is $896.28.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,816 shares of company stock worth $6,981,347 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Costco Wholesale by 1.7% during the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after buying an additional 162,191 shares during the period. FMR LLC grew its holdings in shares of Costco Wholesale by 3.6% in the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the period. International Assets Investment Management LLC increased its stake in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Legal & General Group Plc increased its stake in Costco Wholesale by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after purchasing an additional 88,550 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Costco Wholesale by 3.8% during the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after purchasing an additional 125,444 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

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.