Costco Wholesale (NASDAQ:COST) Now Covered by Analysts at Truist

Truist began coverage on shares of Costco Wholesale (NASDAQ:COST) in a research note published on Thursday morning, The Fly reports. The brokerage issued a buy rating and a $606.00 price objective on the retailer’s stock.

Several other equities analysts also recently commented on the stock. MKM Partners increased their price objective on shares of Costco Wholesale from $385.00 to $498.00 and gave the company a neutral rating in a research note on Wednesday, December 8th. JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $535.00 to $560.00 and gave the stock an overweight rating in a research note on Friday, December 10th. UBS Group lifted their price objective on Costco Wholesale from $590.00 to $600.00 and gave the company a buy rating in a report on Friday, December 10th. Wells Fargo & Company boosted their price target on Costco Wholesale from $550.00 to $600.00 and gave the stock an overweight rating in a research note on Friday, December 10th. Finally, Stifel Nicolaus upped their price objective on Costco Wholesale from $550.00 to $555.00 and gave the stock a buy rating in a research report on Friday, December 10th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $546.97.

Shares of NASDAQ:COST traded down $10.34 during midday trading on Thursday, hitting $506.54. 44,428 shares of the stock were exchanged, compared to its average volume of 2,290,578. The company has a market capitalization of $224.62 billion, a PE ratio of 44.44, a P/E/G ratio of 4.75 and a beta of 0.64. The business’s fifty day simple moving average is $539.69 and its two-hundred day simple moving average is $478.55. Costco Wholesale has a 52-week low of $307.00 and a 52-week high of $571.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.51 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 9th. The retailer reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.39. The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $49.75 billion. Costco Wholesale had a net margin of 2.54% and a return on equity of 29.77%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. As a group, equities analysts anticipate that Costco Wholesale will post 12.62 EPS for the current year.

In related news, CFO Richard A. Galanti sold 2,218 shares of the firm’s stock in a transaction on Wednesday, December 15th. The shares were sold at an average price of $554.09, for a total value of $1,228,971.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Agnes Wilderotter bought 925 shares of the business’s stock in a transaction that occurred on Tuesday, December 21st. The stock was acquired at an average cost of $540.13 per share, with a total value of $499,620.25. The disclosure for this purchase can be found here. Insiders have sold a total of 11,218 shares of company stock worth $6,249,652 over the last three months. 0.22% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. raised its holdings in shares of Costco Wholesale by 1.5% in the second quarter. Eqis Capital Management Inc. now owns 5,047 shares of the retailer’s stock valued at $1,997,000 after acquiring an additional 73 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Costco Wholesale by 7.3% in the third quarter. Stratos Wealth Partners LTD. now owns 36,303 shares of the retailer’s stock valued at $16,313,000 after buying an additional 2,470 shares during the last quarter. Invesco Ltd. boosted its position in Costco Wholesale by 7.1% in the second quarter. Invesco Ltd. now owns 1,467,320 shares of the retailer’s stock valued at $580,575,000 after buying an additional 97,511 shares during the last quarter. Employees Retirement System of Texas boosted its position in Costco Wholesale by 30.8% in the 2nd quarter. Employees Retirement System of Texas now owns 80,700 shares of the retailer’s stock worth $31,931,000 after purchasing an additional 19,000 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Costco Wholesale by 148.8% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 4,230 shares of the retailer’s stock worth $1,901,000 after purchasing an additional 2,530 shares in the last quarter. 66.26% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: United States Operations, Canadian Operations, and Other International Operations.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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