Costco Wholesale (NASDAQ:COST) had its price target increased by analysts at Oppenheimer from $245.00 to $270.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the retailer’s stock. Oppenheimer’s price target points to a potential upside of 10.10% from the company’s current price.
Several other brokerages have also recently issued reports on COST. Telsey Advisory Group reissued an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Stifel Nicolaus raised their target price on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Nomura raised their target price on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Loop Capital lifted their price objective on Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Citigroup lifted their price objective on Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $248.00.
Shares of COST traded down $0.10 during midday trading on Wednesday, hitting $245.24. 225,365 shares of the company traded hands, compared to its average volume of 1,645,565. Costco Wholesale has a one year low of $189.51 and a one year high of $247.09. The stock has a market cap of $108.36 billion, a PE ratio of 35.91, a P/E/G ratio of 3.50 and a beta of 0.95. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.
In related news, Director John W. Meisenbach bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was purchased at an average cost of $242.65 per share, for a total transaction of $727,950.00. Following the completion of the acquisition, the director now owns 12,833 shares in the company, valued at approximately $3,113,927.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Decker sold 2,350 shares of Costco Wholesale stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $240.00, for a total value of $564,000.00. Following the completion of the transaction, the director now owns 46,239 shares of the company’s stock, valued at $11,097,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,587 shares of company stock valued at $2,004,576. 0.21% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in Costco Wholesale by 20,897.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock valued at $165,000 after buying an additional 33,492,419 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Costco Wholesale by 55,048.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock valued at $1,292,998,000 after purchasing an additional 5,494,946 shares in the last quarter. Norges Bank acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $868,633,000. BlackRock Inc. boosted its stake in shares of Costco Wholesale by 2.6% in the 4th quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock valued at $5,862,398,000 after purchasing an additional 736,711 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Costco Wholesale by 8,622.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 577,135 shares of the retailer’s stock valued at $8,898,698,000 after purchasing an additional 570,518 shares in the last quarter. 72.22% of the stock is owned by institutional investors.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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