JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Costco Wholesale (NASDAQ:COST) Stock

Costco Wholesale (NASDAQ:COST) had its target price hoisted by JPMorgan Chase & Co. from $1,065.00 to $1,070.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.96% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price target on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Barclays boosted their price target on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. TD Cowen boosted their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,029.00.

Costco Wholesale Stock Down 6.1 %

COST opened at $964.31 on Friday. The business’s 50-day simple moving average is $989.69 and its 200-day simple moving average is $943.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale has a one year low of $697.27 and a one year high of $1,078.24. The stock has a market capitalization of $428.06 billion, a P/E ratio of 56.62, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Analysts anticipate that Costco Wholesale will post 18.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COST. Swedbank AB raised its holdings in Costco Wholesale by 1.5% in the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock valued at $393,391,000 after acquiring an additional 6,495 shares during the last quarter. Valley Brook Capital Group Inc. raised its holdings in Costco Wholesale by 6.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 2,134 shares of the retailer’s stock valued at $1,892,000 after acquiring an additional 123 shares during the last quarter. JB Capital LLC raised its holdings in Costco Wholesale by 2.5% in the 3rd quarter. JB Capital LLC now owns 849 shares of the retailer’s stock valued at $754,000 after acquiring an additional 21 shares during the last quarter. Western Pacific Wealth Management LP increased its holdings in shares of Costco Wholesale by 2.9% during the 3rd quarter. Western Pacific Wealth Management LP now owns 2,024 shares of the retailer’s stock worth $1,794,000 after buying an additional 57 shares during the last quarter. Finally, Consolidated Planning Corp increased its holdings in shares of Costco Wholesale by 33.4% during the 3rd quarter. Consolidated Planning Corp now owns 7,488 shares of the retailer’s stock worth $6,638,000 after buying an additional 1,876 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.