Barclays Issues Positive Forecast for Costco Wholesale (NASDAQ:COST) Stock Price

Costco Wholesale (NASDAQ:COST) had its target price raised by Barclays from $850.00 to $940.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the retailer’s stock. Barclays‘s price objective would indicate a potential downside of 6.44% from the stock’s previous close.

Several other analysts also recently weighed in on COST. Telsey Advisory Group reiterated an “outperform” rating and set a $1,050.00 target price on shares of Costco Wholesale in a research report on Friday. Jefferies Financial Group lifted their price objective on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Melius Research began coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $981.86.

Costco Wholesale Stock Performance

Shares of COST stock traded up $16.31 during trading hours on Friday, reaching $1,004.70. 969,528 shares of the company traded hands, compared to its average volume of 1,918,646. The firm has a 50-day moving average price of $924.72 and a 200 day moving average price of $883.45. The company has a market cap of $445.15 billion, a P/E ratio of 60.63, a P/E/G ratio of 6.05 and a beta of 0.82. Costco Wholesale has a 12-month low of $630.30 and a 12-month high of $1,007.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.86 earnings per share. As a group, sell-side analysts predict that Costco Wholesale will post 17.77 earnings per share for the current fiscal year.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Summit Securities Group LLC acquired a new position in Costco Wholesale in the 2nd quarter valued at $50,000. Fairway Wealth LLC lifted its holdings in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth $58,000. 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.