Costco Wholesale (NASDAQ:COST) PT Raised to $975.00

Costco Wholesale (NASDAQ:COST) had its target price increased by investment analysts at Tigress Financial from $870.00 to $975.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. Tigress Financial’s price target would suggest a potential upside of 13.79% from the company’s previous close.

Several other brokerages have also commented on COST. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price target on the stock. in a research note on Wednesday, April 3rd. DA Davidson reiterated a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a research note on Thursday, April 11th. Citigroup lifted their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Argus lifted their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Oppenheimer lifted their price target on shares of Costco Wholesale from $850.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $756.85.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $856.84 on Tuesday. The firm has a market cap of $379.86 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 5.66 and a beta of 0.79. Costco Wholesale has a 52-week low of $522.10 and a 52-week high of $873.96. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $793.52 and its two-hundred day moving average is $735.97.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.43 EPS. On average, research analysts expect that Costco Wholesale will post 15.98 EPS for the current fiscal year.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds have recently made changes to their positions in the business. HM Payson & Co. grew its stake in shares of Costco Wholesale by 3.6% in the 1st quarter. HM Payson & Co. now owns 2,717 shares of the retailer’s stock worth $1,990,000 after purchasing an additional 95 shares during the last quarter. SRN Advisors LLC grew its stake in shares of Costco Wholesale by 5.7% in the 1st quarter. SRN Advisors LLC now owns 3,171 shares of the retailer’s stock worth $2,323,000 after purchasing an additional 172 shares during the last quarter. Keynote Financial Services LLC acquired a new position in shares of Costco Wholesale in the 1st quarter worth approximately $201,000. Mosaic Family Wealth Partners LLC increased its position in shares of Costco Wholesale by 1.4% in the first quarter. Mosaic Family Wealth Partners LLC now owns 1,406 shares of the retailer’s stock worth $1,030,000 after acquiring an additional 20 shares in the last quarter. Finally, IMS Capital Management increased its position in shares of Costco Wholesale by 2.7% in the first quarter. IMS Capital Management now owns 3,542 shares of the retailer’s stock worth $2,595,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds 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.