Robert W. Baird Raises Costco Wholesale (NASDAQ:COST) Price Target to $1,125.00

Costco Wholesale (NASDAQ:COST) had its price objective increased by stock analysts at Robert W. Baird from $1,075.00 to $1,125.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the retailer’s stock. Robert W. Baird’s target price indicates a potential upside of 16.66% from the stock’s previous close.

A number of other research firms have also recently weighed in on COST. Evercore ISI reissued a “hold” rating on shares of Costco Wholesale in a research note on Friday, February 14th. TD Cowen upped their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial upped their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and set a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,029.00.

Costco Wholesale Stock Performance

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

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. As a group, research analysts forecast that Costco Wholesale will post 18.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale in the 3rd quarter valued at about $29,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $31,000. NewSquare Capital LLC grew its position in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $33,000. 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.