Truist Financial Downgrades Costco Wholesale (NASDAQ:COST) to Hold

by · The Markets Daily

Costco Wholesale (NASDAQ:COST – Get Free Report) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $873.00 price target on the retailer’s stock. Truist Financial’s target price points to a potential downside of 3.90% from the company’s previous close.

A number of other equities analysts have also recently issued reports on COST. Loop Capital lifted their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Oppenheimer lifted their target price on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Robert W. Baird lifted their target price on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $857.48.

Read Our Latest Stock Report on Costco Wholesale

Costco Wholesale Stock Up 0.8 %

Shares of COST stock opened at $908.42 on Tuesday. Costco Wholesale has a 1 year low of $540.23 and a 1 year high of $923.83. The stock has a market cap of $402.73 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 5.57 and a beta of 0.80. The business’s fifty day moving average is $867.23 and its 200-day moving average is $813.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

A number of institutional investors and hedge funds have recently made changes to their positions in COST. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the first quarter worth about $32,000. Vima LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth about $34,000. Financial Connections Group Inc. increased its stake in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Finally, Bank & Trust Co bought a new position in shares of Costco Wholesale in the second quarter worth about $48,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

About Costco Wholesale

(Get Free Report)

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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