Costco Wholesale (NASDAQ:COST) Rating Increased to Buy at Freedom Broker

Costco Wholesale (NASDAQ:COST) was upgraded by research analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a $1,030.00 price objective on the retailer’s stock. Freedom Broker’s target price would suggest a potential upside of 12.48% from the stock’s previous close.

A number of other research firms have also issued reports on COST. Citigroup assumed coverage on Costco Wholesale in a report on Thursday, June 18th. They set a “neutral” rating and a $1,020.00 price target on the stock. Bank of America lifted their target price on Costco Wholesale from $1,185.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Sanford C. Bernstein set a $1,144.00 target price on Costco Wholesale in a report on Friday. Truist Financial increased their price target on Costco Wholesale from $977.00 to $1,011.00 and gave the stock a “hold” rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,056.03.

Costco Wholesale Stock Performance

NASDAQ COST opened at $915.74 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 1.07. The firm has a market cap of $406.11 billion, a PE ratio of 46.06, a P/E/G ratio of 3.80 and a beta of 0.86. Costco Wholesale has a one year low of $844.06 and a one year high of $1,096.50. The firm’s fifty day moving average is $942.96 and its two-hundred day moving average is $976.78.

Insider Buying and Selling

In related news, Director Kenneth Denman sold 885 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the sale, the director owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. The trade was a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the company. World Investment Advisors grew its stake in Costco Wholesale by 8.4% during the fourth quarter. World Investment Advisors now owns 20,081 shares of the retailer’s stock worth $15,835,000 after buying an additional 1,560 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of Costco Wholesale by 6.9% during the 2nd quarter. Sarasin & Partners LLP now owns 214,194 shares of the retailer’s stock valued at $200,372,000 after acquiring an additional 13,795 shares in the last quarter. Perryman Financial Advisory Inc. AD acquired a new position in shares of Costco Wholesale during the 4th quarter valued at $9,300,000. Hyperion Asset Management Ltd boosted its position in Costco Wholesale by 9.0% during the 2nd quarter. Hyperion Asset Management Ltd now owns 68,762 shares of the retailer’s stock worth $64,325,000 after purchasing an additional 5,656 shares during the period. Finally, Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new stake in Costco Wholesale during the 4th quarter worth $5,813,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.