Costco Wholesale Corp [NASDAQ: COST] stock went on an upward path that rose over 1.60% on Thursday, amounting to a one-week price increase of more than 5.61%. The company report on March 7, 2024 at 4:15 PM that Costco Wholesale Corporation Reports Second Quarter and Year-to-Date Operating Results for Fiscal 2024 and February Sales Results.
Net sales for the quarter increased 5.7 percent, to $57.33 billion, from $54.24 billion last year. Net sales for the first 24 weeks increased 5.9 percent, to $114.05 billion, from $107.68 billion last year.
Over the last 12 months, COST stock rose by 65.61%. The one-year Costco Wholesale Corp stock forecast points to a potential downside of -9.89. The average equity rating for COST stock is currently 1.86, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $348.59 billion, with 442.79 million shares outstanding and 441.60 million shares in the current float. Compared to the average trading volume of 2.26M shares, COST stock reached a trading volume of 4027084 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Costco Wholesale Corp [COST]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COST shares is $714.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COST stock is a recommendation set at 1.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Telsey Advisory Group have made an estimate for Costco Wholesale Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 04, 2024. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $700 to $750. The new note on the price target was released on February 06, 2024, representing the official price target for Costco Wholesale Corp stock. Previously, the target price had yet another raise to $620, while Northcoast analysts kept a Neutral rating on COST stock. On December 15, 2023, analysts increased their price target for COST shares from 625 to 700.
The Average True Range (ATR) for Costco Wholesale Corp is set at 10.75, with the Price to Sales ratio for COST stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 13.33, with the Price to Cash per share for the same quarter was set at 40.26. Price to Free Cash Flow for COST in the course of the last twelve months was 39.60 with Quick ratio for the last quarter at 0.60.
COST Stock Performance Analysis:
Costco Wholesale Corp [COST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.61. With this latest performance, COST shares gained by 10.52% in over the last four-week period, additionally plugging by 46.97% over the last 6 months – not to mention a rise of 65.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COST stock in for the last two-week period is set at 85.37, with the RSI for the last a single of trading hit 89.63, and the three-weeks RSI is set at 81.24 for Costco Wholesale Corp [COST]. The present Moving Average for the last 50 days of trading for this stock 704.69, while it was recorded at 765.48 for the last single week of trading, and 595.66 for the last 200 days.
Insight into Costco Wholesale Corp Fundamentals:
Costco Wholesale Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.09.
COST Stock EPS
With the latest financial reports released by the company, Costco Wholesale Corp posted 3.3/share EPS, while the average EPS was predicted by analysts to be reported at 3.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Costco Wholesale Corp go to 9.12%.
Costco Wholesale Corp [COST] Institutonal Ownership Details
The top three institutional holders of COST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COST stock with ownership which is approximately 5.8325%.
