TD Cowen Increases Costco Wholesale (NASDAQ:COST) Price Target to $1,090.00

Costco Wholesale (NASDAQ:COST) had its price target boosted by equities researchers at TD Cowen from $975.00 to $1,090.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the retailer’s stock. TD Cowen’s price objective would indicate a potential upside of 10.17% from the stock’s previous close.

A number of other research firms have also recently issued reports on COST. Barclays increased their target price on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday. Raymond James raised their price objective on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI upped their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley increased their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Roth Mkm boosted their price target on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $988.46.

Costco Wholesale Trading Up 0.1 %

Shares of NASDAQ COST opened at $989.35 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale has a twelve month low of $630.30 and a twelve month high of $1,007.80. The company’s fifty day moving average is $926.84 and its 200-day moving average is $885.20. The stock has a market cap of $438.36 billion, a price-to-earnings ratio of 58.09, a P/E/G ratio of 6.05 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the company posted $4.86 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts predict that Costco Wholesale will post 17.77 EPS for the current year.

Insider Activity

In related news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction dated 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 approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was 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. Insiders have sold 11,016 shares of company stock valued at $9,826,115 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Costco Wholesale by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after purchasing an additional 162,191 shares in the last quarter. FMR LLC grew its position in shares of Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Costco Wholesale by 2.5% in the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after buying an additional 88,550 shares during the period. Finally, Jennison Associates LLC grew its position in Costco Wholesale by 3.8% during the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after buying an additional 125,444 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

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.