Investors Sell Costco Wholesale Corp. (COST) on Strength (COST)
Investors sold shares of Costco Wholesale Corp. (NASDAQ:COST) on strength during trading on Friday. $55.49 million flowed into the stock on the tick-up and $76.78 million flowed out of the stock on the tick-down, for a money net flow of $21.29 million out of the stock. Of all stocks tracked, Costco Wholesale Corp. had the 0th highest net out-flow for the day. Costco Wholesale Corp. traded up $1.15 for the day and closed at $167.70
COST has been the topic of several analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $198.00 price target on shares of Costco Wholesale Corp. in a research note on Sunday, April 10th. Vetr raised shares of Costco Wholesale Corp. from a “buy” rating to a “strong-buy” rating and set a $168.08 price target on the stock in a research note on Monday, April 11th. Wolfe Research cut shares of Costco Wholesale Corp. from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 29th. JPMorgan Chase & Co. reaffirmed a “focus list” rating and set a $180.00 price target on shares of Costco Wholesale Corp. in a research note on Monday, May 2nd. Finally, Royal Bank Of Canada assumed coverage on shares of Costco Wholesale Corp. in a report on Monday, May 2nd. They set an “outperform” rating and a $169.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $172.73.
The stock’s 50 day moving average price is $162.91 and its 200-day moving average price is $153.74. The company has a market cap of $73.46 billion and a P/E ratio of 31.70.
Costco Wholesale Corp. (NASDAQ:COST) last posted its earnings results on Wednesday, May 25th. The retailer reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.01. During the same period last year, the business earned $1.11 earnings per share. On average, equities analysts anticipate that Costco Wholesale Corp. will post $5.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.80 annualized dividend and a yield of 1.07%.
In related news, CFO Richard A. Galanti sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $167.08, for a total value of $400,992.00. Following the completion of the sale, the chief financial officer now directly owns 30,536 shares in the company, valued at approximately $5,101,954.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jill S. Ruckelshaus sold 7,442 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $167.10, for a total value of $1,243,558.20. Following the completion of the sale, the director now owns 18,566 shares of the company’s stock, valued at $3,102,378.60. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. TCI Wealth Advisors Inc. raised its stake in Costco Wholesale Corp. by 8.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 6,516 shares of the retailer’s stock valued at $1,052,000 after buying an additional 527 shares during the period. Schnieders Capital Management LLC raised its position in shares of Costco Wholesale Corp. by 2.6% in the fourth quarter. Schnieders Capital Management LLC now owns 7,053 shares of the retailer’s stock worth $1,139,000 after buying an additional 176 shares during the period. Palladium Partners LLC raised its position in shares of Costco Wholesale Corp. by 55.7% in the fourth quarter. Palladium Partners LLC now owns 8,418 shares of the retailer’s stock worth $1,360,000 after buying an additional 3,010 shares during the period. Birinyi Associates Inc. raised its position in shares of Costco Wholesale Corp. by 105.5% in the fourth quarter. Birinyi Associates Inc. now owns 9,350 shares of the retailer’s stock worth $1,510,000 after buying an additional 4,800 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Costco Wholesale Corp. during the fourth quarter worth approximately $1,672,000.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.