Costco Wholesale (NASDAQ:COST) Earns Neutral Rating from Analysts at Citigroup

Investment analysts at Citigroup began coverage on shares of Costco Wholesale (NASDAQ:COST) in a research report issued on Thursday. The firm set a “neutral” rating and a $1,020.00 price target on the retailer’s stock. Citigroup’s price target indicates a potential upside of 7.02% from the company’s current price.

COST has been the subject of several other research reports. BTIG Research reissued a “buy” rating and issued a $1,125.00 price target on shares of Costco Wholesale in a research report on Friday, May 29th. TD Cowen reaffirmed a “buy” rating and set a $1,175.00 price objective on shares of Costco Wholesale in a research report on Wednesday, June 3rd. Evercore set a $1,100.00 price objective on Costco Wholesale in a research note on Monday, March 2nd. UBS Group lifted their target price on Costco Wholesale from $1,205.00 to $1,275.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Telsey Advisory Group boosted their target price on Costco Wholesale from $1,125.00 to $1,135.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,061.45.

Costco Wholesale Trading Down 1.3%

Costco Wholesale stock traded down $12.49 during midday trading on Thursday, reaching $953.10. 738,528 shares of the stock traded hands, compared to its average volume of 2,145,294. The firm has a market cap of $422.68 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 4.78 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $1,003.00 and a two-hundred day simple moving average of $968.87. Costco Wholesale has a 12-month low of $844.06 and a 12-month high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The business had revenue of $70.53 billion for the quarter, compared to analyst estimates of $70.12 billion. During the same period in the prior year, the company posted $4.28 EPS. Research analysts expect that Costco Wholesale will post 20.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently modified their holdings of COST. Brighton Jones LLC boosted its position in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after acquiring an additional 130 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Costco Wholesale by 4.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer’s stock worth $3,814,000 after acquiring an additional 165 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Costco Wholesale by 1.1% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer’s stock worth $2,089,000 after purchasing an additional 23 shares during the last quarter. Finally, Schnieders Capital Management LLC. lifted its stake in Costco Wholesale by 2.2% during the second quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer’s stock worth $8,416,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

About Costco Wholesale

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.