Costco Wholesale (NASDAQ:COST) Upgraded to "Buy" at Freedom Broker

Key Points

• Freedom Broker upgraded Costco Wholesale to “Buy” from “Hold” and assigned a $1,030 price target, implying 12.48% upside from the prior close.
• Analyst sentiment remains broadly positive: Costco has a consensus “Moderate Buy” rating and an average price target of $1,056.03 from 35 analysts.
• Costco shares opened at $915.74, while institutional investors own 68.48% of the company; an insider recently sold 885 shares valued at approximately $847,000.

Costco Wholesale (NASDAQ:COST - Get Free Report) was upgraded by equities researchers at Freedom Broker from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a $1,030.00 price objective on the retailer's stock. Freedom Broker's price target would suggest a potential upside of 12.48% from the stock's previous close.

A number of other brokerages have also weighed in on COST. BTIG Research restated a "buy" rating and issued a $1,125.00 price objective on shares of Costco Wholesale in a report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,091.00 price objective on shares of Costco Wholesale in a research report on Friday. Citigroup initiated coverage on Costco Wholesale in a report on Thursday, June 18th. They set a "neutral" rating and a $1,020.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Mizuho set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.03.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $915.74 on Tuesday. Costco Wholesale has a 52-week low of $844.06 and a 52-week high of $1,096.50. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The company's 50-day simple moving average is $942.96 and its 200-day simple moving average is $976.78. The firm has a market cap of $406.11 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 3.80 and a beta of 0.86.

Insiders Place Their Bets

In related news, Director Kenneth Denman sold 885 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director directly owned 4,779 shares of the company's stock, valued at $4,575,653.55. This represents a 15.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

Large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its stake in shares of Costco Wholesale by 1.3% during the second quarter. Parkside Financial Bank & Trust now owns 3,215 shares of the retailer's stock worth $3,008,000 after purchasing an additional 41 shares in the last quarter. MLG Wealth Management DBA Pine Grove Financial Group boosted its position in shares of Costco Wholesale by 10.1% during the 2nd quarter. MLG Wealth Management DBA Pine Grove Financial Group now owns 480 shares of the retailer's stock worth $449,000 after acquiring an additional 44 shares in the last quarter. Agur Provident & Training Funds Management Ltd. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $5,118,000. Cornerstone Financial Management LLC lifted its stake in Costco Wholesale by 16.0% during the second quarter. Cornerstone Financial Management LLC now owns 152 shares of the retailer's stock worth $142,000 after purchasing an additional 21 shares during the last quarter. Finally, Formuepleje A S purchased a new position in shares of Costco Wholesale during the second quarter worth about $2,093,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company's product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco's business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

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