Truist Financial Has Lowered Expectations for Costco Wholesale (NASDAQ:COST) Stock Price

Key Points

• Truist Financial has lowered its price target for Costco Wholesale stock from $1,042.00 to $1,033.00, while maintaining a "hold" rating, suggesting an upside potential of 11.80%.
• Other analysts have varied opinions on Costco, with Telsey Advisory Group setting a target of $1,100.00 and Evercore ISI lowering theirs to $1,025.00, contributing to a consensus rating of "Moderate Buy" with an average price target of $1,069.58.
• Costco's latest earnings report showed an EPS of $5.87, beating estimates and marking an 8.1% increase in quarterly revenue year-over-year, despite the stock trading down 2.0% recently.

Costco Wholesale (NASDAQ:COST - Get Free Report) had its price objective decreased by analysts at Truist Financial from $1,042.00 to $1,033.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the retailer's stock. Truist Financial's price target would suggest a potential upside of 11.80% from the stock's previous close.

Other research analysts also recently issued reports about the company. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a "neutral" rating in a report on Friday. Evercore ISI decreased their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a report on Friday. Wolfe Research started coverage on Costco Wholesale in a research report on Thursday, September 18th. They set a "peer perform" rating on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,130.00 price target on shares of Costco Wholesale in a research report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and an average price target of $1,069.58.

Costco Wholesale Trading Down 2.0%

Shares of COST traded down $19.32 during trading hours on Friday, hitting $923.99. 2,375,416 shares of the stock traded hands, compared to its average volume of 2,214,305. 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. The firm has a market capitalization of $409.77 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 5.31 and a beta of 0.97. The business has a fifty day moving average of $956.40 and a 200-day moving average of $970.87.

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

Insider Buying and Selling at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value 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. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Institutional Trading of Costco Wholesale

A number of institutional investors have recently modified their holdings of COST. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at $25,000. Soundwatch Capital LLC lifted its position in shares of Costco Wholesale by 635.7% during the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer's stock worth $25,000 after buying an additional 2,206 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Costco Wholesale during the 2nd quarter worth $31,000. Anderson Financial Strategies LLC lifted its position in shares of Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares during the last quarter. Finally, Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock worth $42,000 after buying an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

About Costco Wholesale

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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