Evercore ISI Raises Price Target for Costco Wholesale Stock

Analysts at Evercore ISI have raised their price target for Costco Wholesale (NASDAQ:COST) from $1,050.00 to $1,070.00 in a report published on Tuesday. The firm has assigned an "outperform" rating on the stock, indicating a favorable outlook for investors.

This updated target price suggests a potential increase of approximately 14.57% from the retailer's current share price, which caught the attention of many market observers.

Analyst Ratings and Insights

Other financial institutions have also recently reviewed Costco's stock. For instance, UBS Group increased their price target from $840.00 to $1,040.00, declaring a "buy" rating on December 12. Similarly, Loop Capital lowered their price objective slightly from $1,150.00 to $1,135.00 while maintaining a "buy" rating.

TD Cowen raised their target price from $975.00 to $1,090.00, and BMO Capital Markets raised theirs from $1,075.00 to $1,175.00, also giving the stock an "outperform" rating. Telsey Advisory Group further reaffirmed an "outperform" rating with a price target of $1,100.00. In total, nine analysts have given the stock a hold rating, while twenty-one have issued buy ratings. According to MarketBeat.com, analysts currently show a consensus rating of "Moderate Buy" with an average price target set at $1,030.43.

Current Performance of Costco Stock

On Tuesday, shares of Costco Wholesale experienced a minor decline of $0.51, bringing the share price to $933.90. During the trading session, 936,256 shares were exchanged, which is below the typical volume of 1,816,414 shares.

Over the past year, Costco's stock has seen a low of $697.27 and a high of $1,078.24. The company's 50-day moving average price stands at $989.94, while its 200-day moving average is $944.28. Costco's current debt-to-equity ratio is 0.23, with a current ratio of 0.98, and a quick ratio of 0.43. The company has a market capitalization of $414.56 billion, a price-to-earnings ratio of 54.94, and a price-to-earnings-growth ratio of 6.15, with a beta of 0.82.

Recent Earnings Report

Costco recently released its quarterly earnings data, reporting $4.02 earnings per share (EPS) for the most recent quarter. This figure was under the analysts' estimates of $4.09, falling short by $0.07. However, the company did manage to report revenue of $63.72 billion, surpassing the expected $63.02 billion. With a net margin of 2.93% and a return on equity of 32.31%, analysts predict that Costco will post an EPS of 18.03 for the current fiscal year.

Institutional Investment Update

In the realm of institutional investing, several hedge funds have either increased or decreased their stakes in Costco Wholesale. Investment Management Corp VA ADV purchased a new stake valued at approximately $25,000 in the fourth quarter. RPg Family Wealth Advisory LLC acquired a stake worth $29,000 in the third quarter, and Synergy Investment Management LLC bought roughly $31,000 worth of Costco shares during the same period.

NewSquare Capital LLC increased its stake by 250%, now holding 35 shares valued at $32,000 following the acquisition of an additional 25 shares. Endeavor Private Wealth Inc. also purchased a new stake valued at about $33,000. Notably, institutional investors now control around 68.48% of Costco's stock.

About Costco Wholesale

Costco Wholesale Corporation operates membership warehouses across various locations, including the United States, Canada, Mexico, Japan, and several European countries. The company offers a wide range of merchandise, both branded and private-label.

Costco, Stock, Investment