News Business Costco Wholesale Stock Sees Uptick: A Closer Look
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Costco Wholesale

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Costco Wholesale Stock Sees Uptick: A Closer Look

March 19, 2024

By MarketBeat

Overview

Shares of Costco Wholesale Co. (NASDAQ:COST) experienced a modest uptick during mid-day trading on Tuesday. Let's delve into the details.

The Numbers

The stock reached a high of $734.58 and last traded at $731.82. A total of 294,001 shares changed hands during the trading session, representing a decline of 87% from the average session volume of 2,211,624 shares. The stock had previously closed at $731.54.

Analyst Insights

Several equities analysts have weighed in on Costco Wholesale:

  • UBS Group raised their price target from $640.00 to $725.00 and maintained a "buy" rating.
  • Wells Fargo & Company increased their target price from $610.00 to $675.00, maintaining an "equal weight" rating.
  • Citigroup upped their target price from $585.00 to $630.00 and gave the stock a "neutral" rating.
  • Evercore ISI set a target price of $650.00, rating the stock as "outperform."
  • StockNews.com downgraded Costco Wholesale from a "buy" to a "hold" rating.

Financial Snapshot

Costco Wholesale boasts a 50-day moving average price of $716.32 and a 200-day moving average price of $634.01. The company's market capitalization stands at $324.74 billion, with a price-to-earnings ratio of 47.86 and a price-to-earnings-growth ratio of 5.03. Its beta is 0.77.

Recent Earnings

In its latest earnings report, Costco Wholesale exceeded expectations, reporting $3.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.62 by $0.09. The company achieved revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion.

Conclusion

Costco Wholesale remains a key player in the retail sector, and its recent stock performance reflects investor confidence. As always, investors should stay informed and consider expert opinions when making investment decisions.

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