Evercore ISI Raises Price Target for Costco Wholesale Stock

Evercore ISI has recently increased its price target for Costco Wholesale (NASDAQ:COST) from $1,050.00 to $1,070.00, highlighting a positive outlook for the retailer's stock after their analysis released on Tuesday. The rating assigned to Costco's stock is "outperform," indicating that analysts expect it to perform better than the market average. This new target represents a potential upside of approximately 14.57% from the stock's current trading price.

Investors are particularly interested in Costco because of its strong brand and consistent performance in the retail sector. It is known for offering a wide range of products through its membership-based warehouse model, which has proven to attract a loyal customer base.

Recent Analyst Reports

In addition to Evercore ISI's updated price target, several other financial institutions have also released analyses regarding Costco Wholesale. For instance, UBS Group raised its price objective from $840.00 to $1,040.00 and assigned a "buy" rating on December 12. Loop Capital, however, lowered their target from $1,150.00 to $1,135.00 while maintaining a “buy” rating on the stock. Furthermore, TD Cowen has elevated its target price to $1,090.00 with a “buy” rating following their analysis released on December 13. BMO Capital Markets also increased their price target to $1,175.00, continuing their "outperform" rating. Lastly, Telsey Advisory Group reiterated an "outperform" rating and set a price objective of $1,100.00.

Overall, analysts are showing a favorable outlook towards Costco, as nine have indicated a "hold" rating while twenty-one have given a "buy" rating according to the latest data from MarketBeat. The consensus rating for the stock stands at "Moderate Buy" with an average target price of approximately $1,030.43.

Stock Performance and Market Insights

On Tuesday, Costco Wholesale's stock saw a slight decline of 0.1%, closing at $933.90. A total of 936,256 shares were traded during the day, compared to its average trading volume of 1,816,414 shares. Over the past year, Costco's stock has fluctuated significantly, with a low of $697.27 and a high of $1,078.24. Currently, the company's 50-day moving average is $989.94, while the 200-day moving average stands at $944.28. Investors may also find it noteworthy that Costco holds a debt-to-equity ratio of 0.23 and has a market capitalization of around $414.56 billion, reflecting its significant presence in the retail market.

Recently, Costco reported its quarterly earnings, revealing earnings per share of $4.02. This result fell short of the analysts' expectations of $4.09 by $0.07. In terms of revenue, Costco generated $63.72 billion for the quarter, exceeding the estimated figure of $63.02 billion. With a net margin of 2.93% and a return on equity of 32.31%, analysts have forecasted that Costco will report an EPS of 18.03 for the current fiscal year.

Institutional Interest in Costco Stock

Institutional investors have shown a keen interest in Costco Wholesale's stock, with 68.48% of the shares currently held by such investors. Recent trends indicate that several hedge funds have adjusted their stakes in the company. For example, Investment Management Corp VA ADV and RPg Family Wealth Advisory LLC both acquired new stakes in the company, valued at approximately $25,000 and $29,000, respectively, during the fourth and third quarters of last year. Synergy Investment Management LLC and NewSquare Capital LLC have also expressed interest in Costco stocks, reflecting a growing confidence among institutional investors.

About Costco Wholesale Corporation

Costco Wholesale Corporation operates membership-based warehouse stores across multiple countries, including the United States, Canada, Mexico, and select regions in Asia and Europe. The company's diverse product offerings encompass branded and private-label items across various categories, catering to a wide range of consumer needs.

Costco, Stock, Investment