The Goldman Sachs Group Issues Positive Forecast for Costco Wholesale (NASDAQ:COST) Stock Price

Key Points

• Goldman Sachs has raised its price target for Costco from $1,333 to $1,418, indicating a potential upside of 50.32% from the current price.
• Costco reported quarterly earnings with an EPS of $5.87, beating estimates, and revenue of $86.16 billion, reflecting an 8.1% year-over-year increase.
• Seventeen analysts currently have a buy rating for Costco, contributing to a consensus rating of "Moderate Buy" with an average price target of $1,062.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) had its price target increased by investment analysts at The Goldman Sachs Group from $1,333.00 to $1,418.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has a "buy" rating on the retailer's stock. The Goldman Sachs Group's target price points to a potential upside of 50.32% from the company's current price.

Other analysts have also issued reports about the company. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Loop Capital reduced their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Evercore ISI dropped their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research note on Friday. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Costco Wholesale in a research note on Friday. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

Costco Wholesale Trading Down 0.2%

Shares of COST stock opened at $943.31 on Friday. Costco Wholesale has a 12 month low of $867.16 and a 12 month high of $1,078.23. The business's 50 day moving average is $956.40 and its two-hundred day moving average is $970.87. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $418.34 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 5.31 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.15 EPS. Equities analysts predict that Costco Wholesale will post 18.03 EPS for the current year.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% 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.

Hedge Funds Weigh In On Costco Wholesale

Large investors have recently bought and sold shares of the stock. Personal CFO Solutions LLC lifted its holdings in Costco Wholesale by 12.4% in the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares during the period. F&V Capital Management LLC bought a new position in shares of Costco Wholesale during the 1st quarter valued at approximately $236,000. Graybill Wealth Management LTD. purchased a new position in Costco Wholesale during the first quarter valued at approximately $3,095,000. Rossmore Private Capital boosted its position in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after purchasing an additional 62 shares during the period. Finally, Curat Global LLC purchased a new stake in shares of Costco Wholesale in the first quarter worth $241,000. 68.48% of the stock is owned by hedge funds and other 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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