Costco Wholesale (NASDAQ:COST) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Costco Wholesale (NASDAQ:COST) had its price objective increased by stock analysts at Sanford C. Bernstein from $1,143.00 to $1,155.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the retailer’s stock. Sanford C. Bernstein‘s price target would suggest a potential upside of 7.30% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird set a $1,175.00 target price on shares of Costco Wholesale in a research note on Friday, September 25th. DA Davidson lifted their price target on shares of Costco Wholesale from $1,000.00 to $1,040.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Truist Financial cut their price target on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a report on Friday, September 25th. Raymond James Financial reduced their price objective on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a research report on Friday, September 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating for the company in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,092.23.

Costco Wholesale Price Performance

NASDAQ COST traded up $10.29 on Wednesday, reaching $1,076.43. The company had a trading volume of 949,416 shares, compared to its average volume of 2,205,132. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $477.00 billion, a PE ratio of 51.87, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. The firm’s 50 day moving average price is $957.28 and its 200 day moving average price is $973.36. Costco Wholesale has a 12 month low of $844.06 and a 12 month high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. During the same period in the prior year, the company earned $5.87 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale will post 22.70 earnings per share for the current year.

Insider Buying and Selling at Costco Wholesale

In other news, EVP William Richard Wilcox sold 1,100 shares of the company’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the sale, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Costco Wholesale

Hedge funds have recently modified their holdings of the stock. First National Bank of Hutchinson increased its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock valued at $1,094,000 after purchasing an additional 10 shares in the last quarter. Frisch Financial Group Inc. raised its holdings in Costco Wholesale by 1.0% in the 1st quarter. Frisch Financial Group Inc. now owns 1,049 shares of the retailer’s stock valued at $1,045,000 after acquiring an additional 10 shares during the last quarter. Main Street Group LTD increased its holdings in shares of Costco Wholesale by 0.8% in the first quarter. Main Street Group LTD now owns 1,226 shares of the retailer’s stock valued at $1,221,000 after purchasing an additional 10 shares during the last quarter. HORAN Wealth LLC raised its holdings in shares of Costco Wholesale by 1.3% during the 1st quarter. HORAN Wealth LLC now owns 803 shares of the retailer’s stock worth $769,000 after acquiring an additional 10 shares during the period. Finally, SHUTTLEWORTH & Co raised its stake in Costco Wholesale by 0.4% during the first quarter. SHUTTLEWORTH & Co now owns 2,442 shares of the retailer’s stock worth $2,433,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Recent Costco Wholesale Headlines

Here are a few of the latest headlines about COST:

• Positive Sentiment: Costco declared a one-time special cash dividend of $30 per share, totaling about $13.3 billion. It is payable December 4 to shareholders of record November 24. The unusually large payout may attract income-focused investors and signals substantial cash generation. Costco dividend and repurchase announcement
• Positive Sentiment: Recent coverage also points to business momentum: Costco reportedly surpassed Kroger in a grocery market-share ranking, while October digital sales grew 22.5%, supporting the longer-term growth case. Costco grocery share gains
• Negative Sentiment: A Freedom Broker downgrade from “buy” to “hold” highlights valuation and upside concerns; its $1,050 price target was below the reported recent share price, despite being raised from $1,010. Costco’s high valuation may limit gains if growth disappoints. Freedom Broker rating information

Costco Wholesale Company Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.