Telsey Advisory Group Reaffirms “Outperform” Rating for Costco Wholesale (NASDAQ:COST)

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They currently have a $1,000.00 price target on the retailer’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 4.00% from the stock’s current price.

Other research analysts have also issued research reports about the company. Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. BMO Capital Markets raised their price target on Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a report on Tuesday, September 24th. Finally, Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $961.55 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $426.03 billion, a P/E ratio of 58.03, a P/E/G ratio of 5.93 and a beta of 0.80. The stock has a 50 day moving average of $906.32 and a two-hundred day moving average of $870.06. Costco Wholesale has a twelve month low of $582.83 and a twelve month high of $976.30.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business posted $4.86 earnings per share. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale will post 17.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock valued at $9,826,115 over the last quarter. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Costco Wholesale in the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. raised its stake in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Costco Wholesale during the second quarter worth about $50,000. 68.48% of the stock is 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.