Traders Sell Shares of Costco Wholesale Corporation (COST) on Strength (COST)
Investors sold shares of Costco Wholesale Corporation (NASDAQ:COST) on strength during trading hours on Friday. $64.54 million flowed into the stock on the tick-up and $86.11 million flowed out of the stock on the tick-down, for a money net flow of $21.57 million out of the stock. Of all stocks tracked, Costco Wholesale Corporation had the 27th highest net out-flow for the day. Costco Wholesale Corporation traded up $0.01 for the day and closed at $156.65
A number of brokerages have issued reports on COST. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG raised shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $185.00 target price on shares of Costco Wholesale Corporation and gave the company a “buy” rating in a report on Saturday, May 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $190.00 target price (up from $185.00) on shares of Costco Wholesale Corporation in a report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $179.11.
The company’s 50-day moving average price is $155.55 and its 200 day moving average price is $167.61. The firm has a market cap of $68.71 billion, a price-to-earnings ratio of 27.20 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The company had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, analysts forecast that Costco Wholesale Corporation will post $5.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.28%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, August 16th. Costco Wholesale Corporation’s payout ratio is currently 34.66%.
In other Costco Wholesale Corporation news, VP James P. Murphy sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the sale, the vice president now directly owns 48,845 shares of the company’s stock, valued at $8,855,598.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Meisenbach sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the completion of the sale, the director now directly owns 4,974 shares of the company’s stock, valued at $792,109.50. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $2,677,430 over the last three months. Insiders own 0.74% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Delta Asset Management LLC TN increased its stake in Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after buying an additional 65 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale Corporation during the second quarter valued at about $101,000. Mercer Capital Advisers Inc. increased its stake in Costco Wholesale Corporation by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock valued at $111,000 after buying an additional 201 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale Corporation during the second quarter valued at about $107,000. Finally, Mosaic Family Wealth LLC increased its stake in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares in the last quarter. 74.14% of the stock is owned by institutional investors.
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About Costco Wholesale Corporation
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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