Telsey Advisory Group Reaffirms “Outperform” Rating for Costco Wholesale (NASDAQ:COST)

Costco Wholesale (NASDAQ:COST)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They currently have a $1,100.00 price objective on the retailer’s stock. Telsey Advisory Group’s target price would suggest a potential upside of 20.90% from the company’s previous close.

Several other research firms have also weighed in on COST. Citigroup increased their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their price objective on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial boosted their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $909.81 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $403.86 billion, a P/E ratio of 53.42, a PEG ratio of 6.02 and a beta of 0.82. The business has a 50-day moving average of $942.87 and a 200-day moving average of $895.94. Costco Wholesale has a 1 year low of $640.51 and a 1 year high of $1,008.25.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,816 shares of company stock valued at $6,981,347 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale in the third quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Costco Wholesale in the third quarter valued at approximately $58,000. Fairway Wealth LLC grew its position in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in Costco Wholesale by 329.4% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after acquiring an additional 56 shares during the last quarter. Finally, VitalStone Financial LLC bought a new position in shares of Costco Wholesale in the third quarter worth approximately $71,000. Institutional investors and hedge funds 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.