Costco Wholesale (NASDAQ:COST) Given New $950.00 Price Target at Wells Fargo & Company

Costco Wholesale (NASDAQ:COST) had its price objective upped by equities research analysts at Wells Fargo & Company from $850.00 to $950.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the retailer’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 4.28% from the stock’s current price.

COST has been the subject of a number of other reports. Melius Research began coverage on Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. Roth Mkm raised their price objective on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $918.07.

Costco Wholesale Stock Up 0.2 %

Shares of Costco Wholesale stock opened at $992.50 on Thursday. Costco Wholesale has a 1 year low of $603.86 and a 1 year high of $992.50. The business has a 50-day moving average of $912.04 and a two-hundred day moving average of $876.08. The company has a market capitalization of $439.75 billion, a P/E ratio of 59.90, a price-to-earnings-growth ratio of 6.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $4.86 earnings per share. As a group, equities analysts predict that Costco Wholesale will post 17.75 EPS for the current year.

Insider Activity

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was 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 in the company, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Costco Wholesale by 1.7% in 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 in the last quarter. FMR LLC raised its position in shares of Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after buying an additional 324,973 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Legal & General Group Plc raised its position in shares of Costco Wholesale by 2.5% in the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after buying an additional 88,550 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after buying an additional 125,444 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.