Truist Financial Downgrades Costco Wholesale (NASDAQ:COST) to Hold

Costco Wholesale (NASDAQ:COST) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Briefing.com reports. They presently have a $873.00 target price on the retailer’s stock. Truist Financial’s target price would suggest a potential downside of 4.81% from the company’s previous close.

Several other research analysts have also recently weighed in on COST. Loop Capital increased their price target on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a report on Friday, September 6th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Barclays lifted their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Finally, Roth Mkm restated a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $857.48.

Costco Wholesale Price Performance

NASDAQ:COST opened at $917.08 on Tuesday. The company has a market cap of $406.57 billion, a P/E ratio of 56.82, a P/E/G ratio of 5.51 and a beta of 0.80. The firm’s fifty day moving average price is $866.22 and its two-hundred day moving average price is $812.45. Costco Wholesale has a one year low of $540.23 and a one year high of $923.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Insider Activity

In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,974 shares of company stock worth $4,252,856. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COST. Vanguard Group Inc. raised its stake in shares of Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after acquiring an additional 473,702 shares during the last quarter. Capital World Investors grew its stake in shares of Costco Wholesale by 8.1% in the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock worth $2,802,147,000 after purchasing an additional 285,533 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 purchasing an additional 88,550 shares during the period. Fisher Asset Management LLC raised its position in Costco Wholesale by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock worth $1,842,241,000 after purchasing an additional 81,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Costco Wholesale by 28.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after buying an additional 338,780 shares during the period. 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.