John W. Meisenbach Sells 3,000 Shares of Costco Wholesale Co. (COST) Stock
Costco Wholesale Co. (NASDAQ:COST) Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $191.31, for a total value of $573,930.00. Following the completion of the transaction, the director now directly owns 8,654 shares in the company, valued at $1,655,596.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Costco Wholesale Co. (NASDAQ COST) opened at $189.33 on Friday. The firm has a market capitalization of $83,150.00, a price-to-earnings ratio of 30.10, a P/E/G ratio of 3.09 and a beta of 0.97. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $199.88. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. analysts predict that Costco Wholesale Co. will post 6.71 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Westside Investment Management Inc. boosted its holdings in Costco Wholesale by 0.3% in the second quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock worth $168,000 after acquiring an additional 3 shares in the last quarter. SVA Plumb Wealth Management LLC boosted its holdings in Costco Wholesale by 0.3% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock worth $404,000 after acquiring an additional 7 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Costco Wholesale by 0.5% in the second quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock worth $223,000 after acquiring an additional 7 shares in the last quarter. Keel Point LLC boosted its holdings in Costco Wholesale by 1.6% in the second quarter. Keel Point LLC now owns 1,722 shares of the retailer’s stock worth $275,000 after acquiring an additional 27 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its holdings in Costco Wholesale by 1.5% in the second quarter. Ropes Wealth Advisors LLC now owns 1,981 shares of the retailer’s stock worth $317,000 after acquiring an additional 30 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors.
COST has been the topic of a number of analyst reports. Oppenheimer lifted their price target on Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $192.73 to $215.00 in a research note on Monday, December 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale in a research note on Monday, December 4th. Vetr cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $171.07 price target on the stock. in a research note on Monday, November 6th. Finally, Morgan Stanley set a $175.00 target price on Costco Wholesale and gave the company a “hold” rating in a research note on Friday, December 15th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $190.18.
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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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