Loop Capital Issues Pessimistic Forecast for Costco Wholesale (NASDAQ:COST) Stock Price

Costco Wholesale (NASDAQ:COST) had its price objective lowered by Loop Capital from $1,150.00 to $1,135.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the retailer’s stock. Loop Capital’s target price indicates a potential upside of 17.70% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group increased their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer restated an “outperform” rating and issued a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Evercore ISI restated a “hold” rating on shares of Costco Wholesale in a research report on Friday, February 14th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, March 3rd. Finally, DA Davidson upped their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,029.00.

Costco Wholesale Stock Down 6.1 %

COST stock opened at $964.31 on Friday. Costco Wholesale has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24. The business’s 50-day moving average is $989.69 and its two-hundred day 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. The company has a market cap of $428.06 billion, a price-to-earnings ratio of 56.62, a P/E/G 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 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. As a group, analysts forecast that Costco Wholesale will post 18.03 earnings per share for the current year.

Institutional Investors Weigh In On Costco Wholesale

Several institutional investors have recently modified their holdings of COST. Swedbank AB lifted its stake in shares of 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 purchasing an additional 6,495 shares during the last quarter. Valley Brook Capital Group Inc. lifted its stake in shares of Costco Wholesale by 6.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 2,134 shares of the retailer’s stock worth $1,892,000 after acquiring an additional 123 shares during the last quarter. JB Capital LLC lifted its stake in shares of Costco Wholesale by 2.5% during the 3rd quarter. JB Capital LLC now owns 849 shares of the retailer’s stock worth $754,000 after acquiring an additional 21 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake 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 acquiring an additional 57 shares during the last quarter. Finally, Consolidated Planning Corp lifted its stake 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 acquiring an additional 1,876 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

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.