Costco Wholesale (NASDAQ:COST) Stock Price Up 1.2% – What’s Next?

Costco Wholesale Co. (NASDAQ:COST) was up 1.2% during mid-day trading on Wednesday . The stock traded as high as $901.68 and last traded at $901.15. Approximately 450,270 shares changed hands during 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 Analyst Weigh In

A number of research analysts have issued reports on COST shares. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird lifted their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. BMO Capital Markets reissued an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Barclays increased their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Loop Capital lifted their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.04.

Costco Wholesale Price Performance

The company has a market cap of $401.39 billion, a PE ratio of 55.83, a price-to-earnings-growth ratio of 5.34 and a beta of 0.80. The stock has a fifty day simple moving average of $878.18 and a two-hundred day simple moving average of $824.51. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,174 shares of company stock valued at $7,097,624. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several large investors have recently modified their holdings of COST. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale in the first quarter valued at $32,000. Financial Connections Group Inc. increased its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Vima LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $34,000. Bank & Trust Co acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at about $48,000. Finally, Ruedi Wealth Management Inc. raised its stake in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.