Evercore ISI Has Lowered Expectations for Costco Wholesale (NASDAQ:COST) Stock Price

Costco Wholesale (NASDAQ:COST - Get Free Report) had its price objective lowered by equities researchers at Evercore ISI from $1,075.00 to $1,060.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the retailer's stock. Evercore ISI's price objective would suggest a potential upside of 8.08% from the company's previous close.

Several other analysts have also weighed in on the stock. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Mizuho started coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective for the company. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,034.79.

Costco Wholesale Stock Down 0.4%

COST traded down $3.56 on Tuesday, reaching $980.80. The company's stock had a trading volume of 691,379 shares, compared to its average volume of 2,062,169. Costco Wholesale has a 1 year low of $793.00 and a 1 year high of $1,078.24. The business's 50 day moving average is $1,001.94 and its 200 day moving average is $981.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market cap of $434.96 billion, a price-to-earnings ratio of 57.62, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during 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 business's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.78 EPS. As a group, research analysts forecast that Costco Wholesale will post 18.03 EPS for the current fiscal year.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president now owns 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $10,825,205 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cromwell Holdings LLC boosted its position in Costco Wholesale by 0.9% in the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock worth $1,048,000 after purchasing an additional 10 shares in the last quarter. 44 Wealth Management LLC increased its stake in Costco Wholesale by 0.3% during the 4th quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock worth $3,196,000 after buying an additional 10 shares in the last quarter. SRN Advisors LLC increased its position in shares of Costco Wholesale by 0.3% during the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock worth $2,823,000 after purchasing an additional 10 shares in the last quarter. Miramar Capital LLC lifted its stake in shares of Costco Wholesale by 1.9% in the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock worth $481,000 after buying an additional 10 shares in the last quarter. Finally, Clear Investment Research LLC boosted its holdings in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the last quarter. Institutional investors 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.

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