Truist Financial Raises Costco Wholesale (NASDAQ:COST) Price Target to $995.00

Costco Wholesale (NASDAQ:COST) had its price objective boosted by stock analysts at Truist Financial from $935.00 to $995.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 3.18% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Citigroup lifted their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. UBS Group lifted their price objective on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,029.00.

Costco Wholesale Price Performance

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

Costco Wholesale (NASDAQ:COST) last released its quarterly 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 for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, sell-side analysts forecast that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Costco Wholesale

Institutional investors have recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its holdings in shares of Costco Wholesale by 0.9% in the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock valued at $1,048,000 after purchasing an additional 10 shares during the last quarter. 44 Wealth Management LLC boosted its position in shares of Costco Wholesale by 0.3% in the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock valued at $3,196,000 after acquiring an additional 10 shares during the period. SRN Advisors LLC boosted its position in shares of Costco Wholesale by 0.3% in the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock valued at $2,823,000 after acquiring an additional 10 shares during the period. Miramar Capital LLC boosted its position in shares of Costco Wholesale by 1.9% in the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock valued at $481,000 after acquiring an additional 10 shares during the period. Finally, Clear Investment Research LLC boosted its position in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after acquiring an additional 10 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.