Investors Buy Shares of Costco Wholesale Corp. (COST) on Weakness
Traders bought shares of Costco Wholesale Corp. (NASDAQ:COST) on weakness during trading hours on Friday. $88.19 million flowed into the stock on the tick-up and $72.02 million flowed out of the stock on the tick-down, for a money net flow of $16.17 million into the stock. Of all equities tracked, Costco Wholesale Corp. had the 5th highest net in-flow for the day. Costco Wholesale Corp. traded down ($0.93) for the day and closed at $163.93
Several analysts recently commented on COST shares. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $171.00 target price on shares of Costco Wholesale Corp. in a report on Wednesday, July 6th. Zacks Investment Research cut Costco Wholesale Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Argus restated a “buy” rating and set a $175.00 price target on shares of Costco Wholesale Corp. in a report on Tuesday, July 5th. Nomura restated a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corp. in a report on Thursday. Finally, Citigroup Inc. increased their price target on Costco Wholesale Corp. from $155.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $173.47.
The stock has a market capitalization of $71.81 billion and a P/E ratio of 30.98. The firm has a 50-day moving average of $167.21 and a 200-day moving average of $155.75.
Costco Wholesale Corp. (NASDAQ:COST) last released its quarterly earnings results on Wednesday, May 25th. The retailer reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. During the same period in the prior year, the business earned $1.11 EPS. Analysts forecast that Costco Wholesale Corp. will post $5.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.80 annualized dividend and a dividend yield of 1.10%.
In other Costco Wholesale Corp. news, Director John W. Meisenbach sold 5,737 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now directly owns 4,652 shares of the company’s stock, valued at $780,326.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard A. Galanti sold 2,400 shares of the business’s stock in a transaction 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 $5,101,954.88. The disclosure for this sale can be found here.
A number of large investors recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in Costco Wholesale Corp. during the fourth quarter valued at approximately $4,120,000. American International Group Inc. increased its stake in Costco Wholesale Corp. by 1.8% in the fourth quarter. American International Group Inc. now owns 251,136 shares of the retailer’s stock valued at $40,559,000 after buying an additional 4,369 shares during the period. BlackRock Investment Management LLC increased its stake in Costco Wholesale Corp. by 0.6% in the fourth quarter. BlackRock Investment Management LLC now owns 1,566,368 shares of the retailer’s stock valued at $252,968,000 after buying an additional 8,614 shares during the period. Westfield Capital Management Co. LP increased its stake in Costco Wholesale Corp. by 24.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 797,082 shares of the retailer’s stock valued at $128,729,000 after buying an additional 156,946 shares during the period. Finally, KBC Group NV increased its stake in Costco Wholesale Corp. by 2.3% in the fourth quarter. KBC Group NV now owns 41,964 shares of the retailer’s stock valued at $6,777,000 after buying an additional 959 shares during the period.
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.
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