Costco Wholesale (NASDAQ:COST) Earns Buy Rating from Analysts at Truist Financial

Investment analysts at Truist Financial started coverage on shares of Costco Wholesale (NASDAQ:COST) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $606.00 price target on the retailer’s stock. Truist Financial’s price objective points to a potential upside of 20.48% from the company’s previous close.

Several other analysts also recently commented on COST. Deutsche Bank Aktiengesellschaft raised their target price on Costco Wholesale from $472.00 to $482.00 and gave the company a “hold” rating in a research note on Friday, December 10th. Jefferies Financial Group raised their target price on Costco Wholesale from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $525.00 to $575.00 in a research note on Thursday, November 11th. Raymond James lifted their price target on Costco Wholesale from $540.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, December 3rd. Finally, Oppenheimer lifted their price target on Costco Wholesale from $550.00 to $580.00 and gave the company an “outperform” rating in a research note on Tuesday, December 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Buy” and a consensus price target of $546.97.

Shares of Costco Wholesale stock opened at $502.99 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.51 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $539.49 and a two-hundred day moving average price of $479.29. Costco Wholesale has a 1-year low of $307.00 and a 1-year high of $571.49. The company has a market cap of $223.04 billion, a P/E ratio of 43.25, a PEG ratio of 4.75 and a beta of 0.64.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 9th. The retailer reported $2.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.59 by $0.39. The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $49.75 billion. Costco Wholesale had a return on equity of 29.77% and a net margin of 2.54%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities research analysts forecast that Costco Wholesale will post 12.62 EPS for the current fiscal year.

In other Costco Wholesale news, Director Mary Agnes Wilderotter bought 925 shares of the stock in a transaction on Tuesday, December 21st. The shares were acquired at an average price of $540.13 per share, with a total value of $499,620.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Russell D. Miller sold 4,000 shares of the business’s stock in a transaction on Monday, December 13th. The shares were sold at an average price of $556.02, for a total transaction of $2,224,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,218 shares of company stock worth $6,249,652 in the last three months. Insiders own 0.22% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COST. Core Alternative Capital purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $25,000. Eubel Brady & Suttman Asset Management Inc. purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $35,000. PSI Advisors LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $37,000. Canton Hathaway LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $38,000. Finally, Consolidated Planning Corp purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 66.26% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: United States Operations, Canadian Operations, and Other International Operations.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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