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

Equities research analysts at Hovde Group assumed coverage on shares of Costco Wholesale (NASDAQ:COST) in a report released on Tuesday,MarketScreener reports. The firm set a “market perform” rating and a $16.00 price target on the retailer’s stock. Hovde Group’s price target suggests a potential downside of 98.25% from the company’s current price.

COST has been the topic of several other research reports. Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Tuesday, November 4th. Morgan Stanley lowered their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Mizuho decreased their price target on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Nineteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,025.07.

Costco Wholesale Trading Down 1.1%

NASDAQ COST opened at $912.59 on Tuesday. The company has a market capitalization of $404.44 billion, a price-to-earnings ratio of 50.11, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale has a 12 month low of $871.71 and a 12 month high of $1,078.23. The company’s fifty day moving average price is $933.74 and its two-hundred day moving average price is $965.75.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter last year, the company earned $5.15 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale will post 18.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction on Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares of the company’s stock, valued at $4,817,966.10. This trade represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,320 shares of company stock worth $9,605,487 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bulwark Capital Corp bought a new stake in Costco Wholesale in the 2nd quarter valued at $25,000. Soundwatch Capital LLC increased its stake in Costco Wholesale by 635.7% during the second quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after acquiring an additional 2,206 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Costco Wholesale in the 2nd quarter worth approximately $31,000. Hurley Capital LLC grew its holdings in shares of Costco Wholesale by 120.0% during the 3rd quarter. Hurley Capital LLC now owns 33 shares of the retailer’s stock worth $31,000 after purchasing an additional 18 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Costco Wholesale during the third quarter valued at approximately $34,000. 68.48% of the stock is owned by institutional investors.

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.