Daiwa Capital Markets Issues Pessimistic Forecast for Costco Wholesale (NASDAQ:COST) Stock Price

by · The Cerbat Gem

Costco Wholesale (NASDAQ:COST – Get Free Report) had its target price reduced by analysts at Daiwa Capital Markets from $947.00 to $917.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the retailer’s stock. Daiwa Capital Markets’ price objective would indicate a potential upside of 6.56% from the company’s previous close.

A number of other brokerages also recently weighed in on COST. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,025.00 to $1,027.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley decreased their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday, December 8th. Raymond James Financial cut their target price on shares of Costco Wholesale from $1,070.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Friday. Eighteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $991.39.

Get Our Latest Analysis on Costco Wholesale

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $860.56 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.04. The stock has a 50 day moving average price of $915.22 and a 200 day moving average price of $949.15. The stock has a market capitalization of $382.05 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 5.99 and a beta of 1.00. Costco Wholesale has a 52 week low of $851.40 and a 52 week high of $1,078.23.

Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings data on Thursday, December 11th. The retailer reported $4.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. The company had revenue of $67.31 billion for the quarter, compared to analysts’ expectations of $67.03 billion. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.04 EPS. Analysts predict that Costco Wholesale will post 18.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tiffany Marie Barbre sold 1,239 shares of the stock in a transaction that occurred 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 sale, the insider owned 5,155 shares in the company, valued at approximately $4,817,966.10. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Richard Wilcox sold 2,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the transaction, the executive vice president directly owned 2,000 shares in the company, valued at $1,860,260. This trade represents a 54.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,720 shares of company stock worth $9,010,257 in the last ninety days. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently modified their holdings of COST. Bulwark Capital Corp bought a new position in Costco Wholesale in the second quarter valued at about $25,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at approximately $31,000. Hurley Capital LLC lifted its stake in Costco Wholesale by 120.0% in the 3rd quarter. Hurley Capital LLC now owns 33 shares of the retailer’s stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Costco Wholesale in the third quarter valued at approximately $34,000. Finally, Collier Financial bought a new stake in shares of Costco Wholesale during the third quarter worth $35,000. Institutional investors own 68.48% of the company’s stock.

About Costco Wholesale

(Get Free Report)

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.

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