JPMorgan Chase & Co. Lowers Costco Wholesale (NASDAQ:COST) Price Target to $1,050.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Costco Wholesale from $1,160.00 to $1,050.00, maintaining an "overweight" rating, which suggests an 11.31% potential upside.
• According to a consensus rating from analysts, Costco holds a "Moderate Buy" with a target price of $1,056.52 based on 17 Buy ratings and 9 Hold ratings.
• Costco reported quarterly earnings of $5.87 per share, exceeding the consensus estimate by $0.06, while revenue increased by 8.1% year-over-year.

Costco Wholesale (NASDAQ:COST - Get Free Report) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $1,160.00 to $1,050.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the retailer's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.31% from the stock's current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Loop Capital lowered their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Truist Financial raised their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.52.

Costco Wholesale Stock Performance

NASDAQ COST opened at $943.31 on Friday. The firm has a market cap of $418.34 billion, a price-to-earnings ratio of 53.51, a PEG ratio of 5.31 and a beta of 0.97. The company has a 50 day moving average of $956.40 and a 200-day moving average of $970.87. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale has a 1-year low of $867.16 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $5.15 earnings per share. On average, equities analysts forecast that Costco Wholesale will post 18.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently modified their holdings of COST. Bulwark Capital Corp bought a new stake in Costco Wholesale in the 2nd quarter valued at about $25,000. Soundwatch Capital LLC boosted its holdings in Costco Wholesale by 635.7% in the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer's stock valued at $25,000 after purchasing an additional 2,206 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in Costco Wholesale in the 2nd quarter valued at about $31,000. Anderson Financial Strategies LLC boosted its holdings in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the period. Finally, Financial Connections Group Inc. boosted its holdings in Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after purchasing an additional 39 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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