Robert W. Baird Forecasts Strong Price Appreciation for Costco Wholesale (NASDAQ:COST) Stock

Costco Wholesale (NASDAQ:COST) had its price target upped by equities researchers at Robert W. Baird from $975.00 to $1,075.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the retailer’s stock. Robert W. Baird’s price target suggests a potential upside of 8.30% from the stock’s previous close.

Several other research firms have also issued reports on COST. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their target price on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Loop Capital lifted their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $928.50.

Costco Wholesale Stock Up 1.1 %

COST opened at $992.61 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The company has a market capitalization of $439.80 billion, a PE ratio of 59.90, a P/E/G ratio of 6.06 and a beta of 0.82. The stock’s fifty day moving average is $913.65 and its 200-day moving average is $876.82. Costco Wholesale has a one year low of $606.35 and a one year high of $997.71.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for 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%. Costco Wholesale’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.86 earnings per share. On average, equities analysts predict that Costco Wholesale will post 17.75 EPS for the current fiscal year.

Insider Activity

In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,016 shares of company stock valued at $9,826,115. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after purchasing an additional 32,074 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the last quarter. Nwam LLC bought a new stake in shares of Costco Wholesale in the third quarter valued at about $20,056,000. Hudson Value Partners LLC grew its position in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after buying an additional 568 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its stake in Costco Wholesale by 66.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after acquiring an additional 1,238 shares during the period. 68.48% of the stock is owned by institutional investors.

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.