Costco Wholesale (NASDAQ:COST) Price Target Raised to $1,155.00

Key Points

• Sanford C. Bernstein raised Costco’s price target from $1,143 to $1,155 and maintained an “outperform” rating, implying about 7.3% upside from the share price cited.
• Analyst views are broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $1,092.23, though individual targets vary.
• Costco beat quarterly estimates, reporting EPS of $6.75 versus $6.54 expected and revenue of $95.72 billion, up 11.1% year over year.

Costco Wholesale (NASDAQ:COST - Get Free Report) had its target price upped by research analysts at Sanford C. Bernstein from $1,143.00 to $1,155.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the retailer's stock. Sanford C. Bernstein's price objective would indicate a potential upside of 7.30% from the stock's current price.

Several other research analysts also recently commented on COST. Jefferies Financial Group decreased their price objective on Costco Wholesale from $1,130.00 to $1,100.00 in a report on Friday, September 25th. Evercore restated an "outperform" rating on shares of Costco Wholesale in a report on Tuesday, September 22nd. Argus restated a "buy" rating and set a $1,230.00 price target on shares of Costco Wholesale in a research report on Monday, September 28th. Tigress Financial lifted their price target on Costco Wholesale from $1,065.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, October 15th. Finally, Robert W. Baird set a $1,175.00 price objective on Costco Wholesale in a research report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,092.23.

Costco Wholesale Stock Performance

Shares of COST stock traded up $10.29 during trading on Wednesday, reaching $1,076.43. 949,416 shares of the company's stock traded hands, compared to its average volume of 2,205,132. The company has a market capitalization of $477.00 billion, a P/E ratio of 51.87, a PEG ratio of 4.71 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average is $957.28 and its 200 day moving average is $973.36. Costco Wholesale has a 1 year low of $844.06 and a 1 year high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion during the quarter, compared to analysts' expectations of $94.97 billion. During the same quarter in the previous year, the company earned $5.87 earnings per share. Costco Wholesale's revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts expect that Costco Wholesale will post 22.70 EPS for the current year.

Insiders Place Their Bets

In related news, EVP William Richard Wilcox sold 1,100 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the transaction, the executive vice president directly owned 3,094 shares of the company's stock, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total value of $2,015,046.00. Following the sale, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COST. Bank of America Corp DE purchased a new stake in Costco Wholesale in the second quarter worth about $6,781,946,000. State Street Corp increased its holdings in Costco Wholesale by 31.7% in the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer's stock worth $22,359,224,000 after acquiring an additional 5,749,362 shares in the last quarter. Legal & General Group Plc purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $2,362,188,000. Ascentis Wealth Management LLC raised its stake in Costco Wholesale by 103,637.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer's stock worth $2,549,616,000 after acquiring an additional 2,497,652 shares during the period. Finally, Corient Private Wealth LP bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $726,689,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Costco Wholesale

Here are a few of the latest headlines about COST:

• Positive Sentiment: Costco declared a one-time special cash dividend of $30 per share, totaling about $13.3 billion. It is payable December 4 to shareholders of record November 24. The unusually large payout may attract income-focused investors and signals substantial cash generation. Costco dividend and repurchase announcement
• Positive Sentiment: The board also reauthorized a $4 billion stock repurchase program through November 2030, adding another potential source of shareholder returns. Costco dividend and buyback coverage
• Positive Sentiment: Recent coverage also points to business momentum: Costco reportedly surpassed Kroger in a grocery market-share ranking, while October digital sales grew 22.5%, supporting the longer-term growth case. Costco grocery share gains

Costco Wholesale Company Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.

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