BMO Capital Markets Boosts Costco Wholesale (NASDAQ:COST) Price Target to $1,075.00

Costco Wholesale (NASDAQ:COST) had its price objective lifted by stock analysts at BMO Capital Markets from $980.00 to $1,075.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the retailer’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 16.48% from the company’s current price.

A number of other analysts have also recently commented on COST. Loop Capital boosted their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Tigress Financial restated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. DA Davidson reaffirmed a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $908.81.

Costco Wholesale Trading Up 1.7 %

Shares of COST stock traded up $15.82 on Monday, hitting $922.89. 401,790 shares of the company’s stock traded hands, compared to its average volume of 1,923,185. The stock has a market capitalization of $408.90 billion, a price-to-earnings ratio of 55.70, a P/E/G ratio of 5.60 and a beta of 0.80. The company’s fifty day simple moving average is $897.62 and its 200 day simple moving average is $859.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale has a one year low of $577.34 and a one year high of $962.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.86 EPS. Equities analysts forecast that Costco Wholesale will post 17.75 EPS for the current year.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was 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 directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were 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 directly owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 4.91 % 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 worth $9,826,115 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of COST. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale in the 3rd quarter worth about $29,000. Financial Connections Group Inc. raised 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 valued at $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co bought a new stake in Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. increased its position in Costco Wholesale by 73.5% during 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 during the period. Finally, Summit Securities Group LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.