Melius Research Begins Coverage on Costco Wholesale (NASDAQ:COST)

Analysts at Melius Research initiated coverage on shares of Costco Wholesale (NASDAQ:COST) in a note issued to 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 company’s current price.

COST has been the topic of several other reports. Barclays increased their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Telsey Advisory Group reissued an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. Argus boosted their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research report on Thursday, August 8th. Finally, Loop Capital lifted their price target on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $857.48.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded up $10.48 during mid-day trading on Monday, hitting $917.46. 996,508 shares of the stock traded hands, compared to its average volume of 1,951,701. The company has a market cap of $406.74 billion, a PE ratio of 56.74, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80. The firm has a 50 day simple moving average of $864.85 and a two-hundred day simple moving average of $811.52. 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 Buying and Selling at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strong Tower Advisory Services boosted its position in shares of Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after acquiring an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after acquiring an additional 2,620 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Costco Wholesale by 22.8% in the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after purchasing an additional 656 shares during the period. Parcion Private Wealth LLC raised its holdings in shares of Costco Wholesale by 30.8% in the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Aspiriant LLC grew its position in shares of Costco Wholesale by 6.1% in the 1st quarter. Aspiriant LLC now owns 2,327 shares of the retailer’s stock worth $1,705,000 after buying an additional 134 shares during the last quarter. 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.