Costco Wholesale Corp. (COST) Sees Strong Trading Volume
Shares of Costco Wholesale Corp. (NASDAQ:COST) saw unusually-high trading volume on Friday . Approximately 1,733,234 shares were traded during mid-day trading, a decline of 0% from the previous session’s volume of 1,741,418 shares.The stock last traded at $157.82 and had previously closed at $156.21.
Several research analysts have commented on COST shares. Citigroup Inc. raised their price target on shares of Costco Wholesale Corp. from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, May 27th. Zacks Investment Research downgraded shares of Costco Wholesale Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $175.00 price target on shares of Costco Wholesale Corp. in a report on Thursday, June 30th. Vetr raised shares of Costco Wholesale Corp. from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of Costco Wholesale Corp. from $169.00 to $173.00 and gave the company an “outperform” rating in a report on Tuesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $173.25.
The stock has a 50-day moving average of $166.62 and a 200 day moving average of $156.13. The stock has a market capitalization of $69.21 billion and a price-to-earnings ratio of 29.86.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 10th.
In other news, EVP John D. Mckay sold 7,500 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $166.58, for a total value of $1,249,350.00. Following the sale, the executive vice president now owns 58,535 shares of the company’s stock, valued at $9,750,760.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard A. Galanti sold 2,400 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $167.08, for a total transaction of $400,992.00. Following the completion of the transaction, the chief financial officer now directly owns 30,536 shares in the company, valued at approximately $5,101,954.88. The disclosure for this sale can be found here.
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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