Costco Wholesale (NASDAQ:COST) PT Lowered to $450.00

Costco Wholesale (NASDAQ:COSTGet Rating) had its price target cut by stock analysts at Wells Fargo & Company from $490.00 to $450.00 in a report issued on Friday, The Fly reports. Wells Fargo & Company‘s price target would suggest a potential downside of 6.53% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on COST. DA Davidson upped their price target on Costco Wholesale from $440.00 to $455.00 in a report on Friday, September 23rd. Bank of America cut their price target on Costco Wholesale from $605.00 to $600.00 in a report on Thursday, December 1st. Sanford C. Bernstein assumed coverage on Costco Wholesale in a research report on Tuesday. They issued an “outperform” rating and a $586.00 price objective on the stock. Evercore ISI cut their target price on shares of Costco Wholesale from $600.00 to $550.00 in a research note on Friday, September 23rd. Finally, Loop Capital reduced their target price on shares of Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $561.69.

Costco Wholesale Trading Down 0.1 %

NASDAQ:COST opened at $481.42 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 1.02. Costco Wholesale has a 1 year low of $406.51 and a 1 year high of $612.27. The stock has a 50-day simple moving average of $496.01 and a 200-day simple moving average of $500.44. The stock has a market cap of $213.68 billion, a P/E ratio of 36.64, a P/E/G ratio of 3.48 and a beta of 0.72.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The retailer reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.08. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.44%. The firm had revenue of $72.09 billion during the quarter, compared to analysts’ expectations of $72 billion. During the same quarter in the prior year, the business earned $3.90 EPS. Costco Wholesale’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Costco Wholesale will post 14.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Claudine Adamo sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $495.97, for a total transaction of $991,940.00. Following the transaction, the executive vice president now directly owns 5,685 shares of the company’s stock, valued at $2,819,589.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $477.65, for a total transaction of $716,475.00. Following the completion of the sale, the chief financial officer now owns 27,818 shares of the company’s stock, valued at $13,287,267.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 2,000 shares of Costco Wholesale stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $495.97, for a total transaction of $991,940.00. Following the completion of the transaction, the executive vice president now owns 5,685 shares in the company, valued at approximately $2,819,589.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,500 shares of company stock worth $3,134,235. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Schubert & Co increased its holdings in Costco Wholesale by 73.3% in the 2nd quarter. Schubert & Co now owns 52 shares of the retailer’s stock valued at $25,000 after buying an additional 22 shares during the period. Cowa LLC bought a new stake in shares of Costco Wholesale during the third quarter worth $26,000. Moisand Fitzgerald Tamayo LLC increased its stake in shares of Costco Wholesale by 1,050.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 69 shares of the retailer’s stock valued at $33,000 after buying an additional 63 shares in the last quarter. Newfound Research LLC bought a new position in shares of Costco Wholesale in the third quarter valued at about $40,000. Finally, Charter Oak Capital Management LLC acquired a new position in shares of Costco Wholesale during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 66.83% of the company’s stock.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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