Costco Wholesale (NASDAQ: COST) PT lowered to $525.00

Costco Wholesale (NASDAQ:COST – Get an estimate) had its price target lowered by Morgan Stanley from $560.00 to $525.00 in a research report released Friday to clients and investors, Stock Target Advisor reports. The company currently has an “overweight” rating on the retailer’s stock. Morgan Stanley’s price target would indicate a potential upside of 10.76% from the company’s current price.

A number of other research analysts have also published reports on COST. MKM Partners cut its target price on Costco Wholesale shares from $517.00 to $512.00 in a research note on Friday. DA Davidson raised its price target on Costco Wholesale from $440.00 to $455.00 in a research report on Friday. Raymond James raised its price target on Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a Friday, August 5 research report. Citigroup raised its price target on Costco Wholesale shares from $510.00 to $545.00 in a Thursday, Aug. 4, report. Finally, Credit Suisse Group cut its price target on Costco Wholesale shares from $570.00 to $550.00 and set a “neutral” rating for the company in a Friday, May 27 research note. Four equity research analysts gave the stock a hold rating and twenty-two gave the company’s stock a buy rating. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $571.92.

Costco Wholesale Inventory Performance

Shares of Costco Wholesale were down $13.18 in Friday trading, hitting $473.99. The company’s stock had a trading volume of 102,895 shares, compared to an average trading volume of 1,850,531 shares. Costco Wholesale has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt ratio of 0.32. The company has a 50-day moving average price of $529.73 and a two-hundred-day moving average price of $519.85. The company has a market capitalization of $209.96 billion, a PE ratio of 37.30, a P/E/G ratio of 3.72 and a beta of 0.70.

Costco Wholesale (NASDAQ:COST – Get Rating) last released quarterly earnings data on Thursday, September 22. The retailer reported earnings per share of $4.20 for the quarter, beating consensus analyst estimates of $4.17 by $0.03. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The company posted revenue of $72.09 billion in the quarter, versus analyst estimates of $72 billion. In the same quarter a year earlier, the company posted earnings per share of $3.90. The company’s revenue increased 17.3% year over year. On average, analysts expect Costco Wholesale to post an EPS of 13.09 for the current year.

Insider Activity at Costco Wholesale

Separately, Vice Chairman James P. Murphy sold 1,500 shares in a trade on Wednesday, July 20. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the sale, the vice president now owns 36,230 shares of the company, valued at $19,027,996. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares in a trade that took place Friday, July 15. The stock was sold at an average price of $521.68, for a total value of $156,504.00. Following the completion of the sale, the administrator now owns 5,197 shares of the company, valued at approximately $2,711,170.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, Vice Chairman James P. Murphy sold 1,500 shares in a trade on Wednesday, July 20. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares of the company, valued at approximately $19,027,996. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 2,800 shares of the company worth $1,449,904. Company insiders own 0.22% of the company’s shares.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Coston McIsaac & Partners bought a new position in Costco Wholesale in Q2 worth $111,000. Inscription Capital LLC increased its equity stake in Costco Wholesale by 21.6% in Q2. Inscription Capital LLC now owns 428 shares of the retailer valued at $205,000 after acquiring 76 additional shares in the last quarter. Fundamentun LLC increased its position in Costco Wholesale shares by 0.9% during the second quarter. Fundamentun LLC now owns 6,329 shares of the retailer valued at $3,034,000 after buying 57 additional shares in the last quarter. Verition Fund Management LLC increased its stake in Costco Wholesale shares by 124.8% during the 2nd quarter. Verition Fund Management LLC now owns 1,385 shares of the retailer worth $664,000 after purchasing an additional 6,971 shares during the period. Finally, Columbia Asset Management bought a new position in Costco Wholesale stock during the second quarter valued at approximately $1,991,000. Institutional investors hold 66.83% of the company’s shares.

About Costco Wholesale

(Get a rating)

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China and Taiwan. It offers branded and private label products in a range of merchandise categories.

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