Costco Wholesale (NASDAQ:COST) Shares Up 1.2% – Here’s What Happened

Shares of Costco Wholesale Co. (NASDAQ:COST) rose 1.2% during mid-day trading on Wednesday . The company traded as high as $901.68 and last traded at $901.15. Approximately 450,270 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,951,936 shares. The stock had previously closed at $890.42.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Tigress Financial boosted their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $883.04.

Costco Wholesale Trading Up 1.7 %

The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $878.18 and a 200-day moving average price of $824.51. The company has a market cap of $401.39 billion, a P/E ratio of 55.83, a PEG ratio of 5.34 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.86 earnings per share. Analysts forecast that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,174 shares of company stock worth $7,097,624. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of COST. Wulff Hansen & CO. lifted its stake in shares of Costco Wholesale by 99,208.6% in the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Costco Wholesale during the first quarter worth $510,353,000. Assenagon Asset Management S.A. raised its position in Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after buying an additional 620,341 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Costco Wholesale by 51,747.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after acquiring an additional 618,383 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after purchasing an additional 485,051 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Company Profile

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.