Costco Wholesale (NASDAQ:COST) Now Covered by Melius Research

Stock analysts at Melius Research started coverage on shares of Costco Wholesale (NASDAQ:COST) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “hold” rating and a $950.00 price target on the retailer’s stock. Melius Research’s target price would indicate a potential upside of 3.55% from the stock’s previous close.

A number of other brokerages have also issued reports on COST. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. DA Davidson reissued a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Bank of America lifted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial lifted their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $857.48.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded up $10.48 during midday trading on Monday, hitting $917.46. The company had a trading volume of 996,508 shares, compared to its average volume of 1,951,701. The business’s 50-day simple moving average is $864.85 and its 200-day simple moving average is $811.52. The stock has a market cap of $406.74 billion, a price-to-earnings ratio of 56.74, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale has a twelve month low of $540.23 and a twelve month high of $923.83.

Insider Activity

In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gilbert & Cook Inc. increased its position in shares of Costco Wholesale by 57.3% during the 4th quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock valued at $413,000 after purchasing an additional 228 shares during the period. Aveo Capital Partners LLC lifted its stake in Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after acquiring an additional 135 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in Costco Wholesale by 62.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock worth $2,184,000 after acquiring an additional 1,274 shares during the period. TrinityPoint Wealth LLC grew its stake in Costco Wholesale by 15.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,475 shares of the retailer’s stock valued at $1,633,000 after acquiring an additional 332 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $1,221,000. 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.