Morgan Stanley Forecasts Strong Price Appreciation for Costco Wholesale (NASDAQ:COST) Stock

Costco Wholesale (NASDAQ:COST - Get Free Report) had its price target upped by analysts at Morgan Stanley from $1,150.00 to $1,225.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the retailer's stock. Morgan Stanley's price objective indicates a potential upside of 15.91% from the company's previous close.

COST has been the subject of a number of other reports. DA Davidson boosted their price objective on Costco Wholesale from $900.00 to $1,000.00 and gave the company a "neutral" rating in a research report on Thursday, February 6th. Loop Capital decreased their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Mizuho assumed coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,035.32.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $16.67 during mid-day trading on Friday, hitting $1,056.85. The company's stock had a trading volume of 2,140,006 shares, compared to its average volume of 2,052,251. The business's fifty day moving average is $983.85 and its two-hundred day moving average is $975.99. The stock has a market cap of $468.91 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 6.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale has a 1 year low of $793.00 and a 1 year high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the company earned $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts anticipate that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insider Transactions at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president now owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the transaction, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at approximately $38,242,687. This represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,600 shares of company stock worth $9,140,195 over the last ninety days. Company insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Costco Wholesale

A number of hedge funds have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $25,000. Synergy Investment Management LLC purchased a new stake in Costco Wholesale during the 4th quarter worth about $31,000. NewSquare Capital LLC raised its position in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after purchasing an additional 25 shares in the last quarter. Collier Financial purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $35,000. Finally, Anderson Financial Strategies LLC grew its position in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.