Gordon Haskett Has Lowered Expectations for Costco Wholesale (NASDAQ:COST) Stock Price

Costco Wholesale (NASDAQ:COST) had its price objective reduced by equities research analysts at Gordon Haskett from $1,150.00 to $1,100.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the retailer’s stock. Gordon Haskett’s target price indicates a potential upside of 21.43% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Wolfe Research started coverage on Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group upped their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Costco Wholesale in a research note on Monday, November 24th. Truist Financial cut their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a report on Friday, September 26th. Finally, Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Nineteen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,027.75.

Costco Wholesale Price Performance

NASDAQ:COST opened at $905.85 on Monday. The firm’s fifty day moving average is $921.94 and its two-hundred day moving average is $958.18. The firm has a market cap of $401.46 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale has a one year low of $871.71 and a one year high of $1,078.23.

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

Insider Buying and Selling at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William Richard Wilcox sold 2,400 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the transaction, the executive vice president owned 2,000 shares in the company, valued at $1,860,260. The trade was a 54.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,720 shares of company stock worth $9,010,257 over the last three months. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Costco Wholesale

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Peterson Wealth Services boosted its stake in shares of Costco Wholesale by 0.5% in the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after buying an additional 72 shares during the period. Fishman Jay A Ltd. MI raised its holdings in shares of Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in Costco Wholesale by 2.0% during the 2nd quarter. Wealthspire Advisors LLC now owns 15,799 shares of the retailer’s stock worth $15,640,000 after buying an additional 312 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.7% in the second quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock valued at $42,920,107,000 after purchasing an additional 711,560 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC grew its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after buying an additional 53 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

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.