Costco Wholesale (NASDAQ:COST) Given New $1,000.00 Price Target at Wells Fargo & Company

Costco Wholesale (NASDAQ:COST) had its price target boosted by equities researchers at Wells Fargo & Company from $950.00 to $1,000.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the retailer’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 0.69% from the company’s previous close.

A number of other equities analysts have also weighed in on COST. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price for the company. DA Davidson upped their target price on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday. Barclays lifted their price target on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research report on Friday. Truist Financial upped their price objective on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $988.46.

Costco Wholesale Price Performance

Shares of COST traded up $4.71 during trading hours on Friday, reaching $993.10. 2,020,291 shares of the stock traded hands, compared to its average volume of 1,925,112. Costco Wholesale has a 52-week low of $630.30 and a 52-week high of $1,007.80. 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 company has a market cap of $440.01 billion, a P/E ratio of 59.93, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. The company’s 50-day moving average price is $924.72 and its two-hundred day moving average price is $883.45.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the business posted $4.86 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Costco Wholesale will post 17.77 earnings per share for the current year.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale 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 owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. 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 ninety days. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

Large investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the 3rd quarter worth $29,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% in 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 during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale during the second quarter worth about $50,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale in the third quarter valued at approximately $58,000. Finally, Fairway Wealth LLC increased its holdings in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.