Costco Wholesale (NASDAQ:COST) Raised to Buy at Wall Street Zen

Costco Wholesale (NASDAQ:COST - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Friday.

COST has been the topic of several other research reports. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Tuesday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. DA Davidson boosted their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. Finally, Cowen reiterated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average price target of $1,035.32.

Costco Wholesale Stock Up 0.4%

Shares of COST traded up $4.13 during midday trading on Friday, reaching $1,014.94. 1,852,907 shares of the company were exchanged, compared to its average volume of 2,056,283. The stock has a 50-day moving average price of $993.68 and a 200-day moving average price of $979.31. The company has a market cap of $450.31 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.78 earnings per share. Research analysts expect that Costco Wholesale will post 18.03 earnings per share for the current year.

Insider Activity

In related news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 $38,242,687. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president now directly owns 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. eCIO Inc. bought a new position in Costco Wholesale in the 1st quarter worth approximately $48,000. Cim LLC lifted its position in Costco Wholesale by 9.7% in the first quarter. Cim LLC now owns 24,622 shares of the retailer's stock worth $23,287,000 after purchasing an additional 2,174 shares during the period. First Hawaiian Bank lifted its position in Costco Wholesale by 2.6% in the first quarter. First Hawaiian Bank now owns 5,926 shares of the retailer's stock worth $5,605,000 after purchasing an additional 152 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in Costco Wholesale by 30.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 173 shares of the retailer's stock worth $163,000 after purchasing an additional 40 shares during the period. Finally, Hodges Capital Management Inc. lifted its position in Costco Wholesale by 52.1% in the first quarter. Hodges Capital Management Inc. now owns 3,423 shares of the retailer's stock worth $3,238,000 after purchasing an additional 1,173 shares during the period. 68.48% of the stock is owned by institutional investors.

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.

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