Costco Wholesale Co. Same Store Sales Grow 4% in February (NASDAQ:COST)
Costco Wholesale’s (NASDAQ:COST) same store sales rose 4% during the month of February. Costco Wholesale’s stock fell by 4.3% in the first full-day of trading following the news.
COST has been the subject of several research analyst reports. Robert W. Baird set a $175.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Monday, November 28th. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research note on Wednesday, November 30th. Nomura set a $185.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Thursday, December 1st. Credit Suisse Group AG initiated coverage on shares of Costco Wholesale in a research note on Monday, December 5th. They set an “outperform” rating and a $175.00 target price for the company. Finally, Deutsche Bank AG cut their target price on shares of Costco Wholesale from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Costco Wholesale has a consensus rating of “Buy” and a consensus target price of $178.69.
In related news, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $166.95, for a total value of $667,800.00. Following the transaction, the vice president now owns 44,049 shares of the company’s stock, valued at approximately $7,353,980.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dennis R. Zook sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $161.12, for a total transaction of $1,127,840.00. The disclosure for this sale can be found here. Insiders sold a total of 51,017 shares of company stock worth $8,350,408 in the last ninety days. 0.74% of the stock is currently owned by insiders.
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Costco Wholesale (NASDAQ:COST) opened at 167.44 on Tuesday. Costco Wholesale has a 1-year low of $138.57 and a 1-year high of $178.71. The stock has a market cap of $73.50 billion, a P/E ratio of 30.89 and a beta of 0.89. The company has a 50-day moving average of $170.16 and a 200 day moving average of $158.44.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The business had revenue of $29.77 billion for the quarter, compared to analysts’ expectations of $29.75 billion. During the same period in the previous year, the company earned $1.24 EPS. Costco Wholesale’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Costco Wholesale will post $5.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, February 8th. Costco Wholesale’s payout ratio is 32.79%.
Several large investors have recently added to or reduced their stakes in COST. Peddock Capital Advisors LLC acquired a new stake in Costco Wholesale during the third quarter worth about $181,000. Klingman & Associates LLC raised its stake in Costco Wholesale by 25.8% in the third quarter. Klingman & Associates LLC now owns 1,218 shares of the retailer’s stock worth $186,000 after buying an additional 250 shares during the last quarter. New Capital Management LP acquired a new stake in Costco Wholesale during the fourth quarter worth about $201,000. Aveo Capital Partners LLC acquired a new stake in Costco Wholesale during the fourth quarter worth about $207,000. Finally, Suncoast Equity Management acquired a new stake in Costco Wholesale during the second quarter worth about $204,000. 73.12% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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