Investors Buy Costco Wholesale (COST) on Weakness
Traders bought shares of Costco Wholesale Co. (NASDAQ:COST) on weakness during trading hours on Wednesday. $134.56 million flowed into the stock on the tick-up and $97.75 million flowed out of the stock on the tick-down, for a money net flow of $36.81 million into the stock. Of all companies tracked, Costco Wholesale had the 20th highest net in-flow for the day. Costco Wholesale traded down ($0.74) for the day and closed at $218.57
COST has been the subject of several recent research reports. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating in a research report on Wednesday, July 25th. BMO Capital Markets set a $260.00 price target on Costco Wholesale and gave the stock a “buy” rating in a research report on Monday, September 10th. Stifel Nicolaus raised their price target on Costco Wholesale from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Loop Capital set a $265.00 price target on Costco Wholesale and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Cowen reissued a “buy” rating and set a $240.00 price target on shares of Costco Wholesale in a research report on Friday, August 10th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $237.94.
The stock has a market cap of $100.24 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 0.46.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, November 8th. Costco Wholesale’s dividend payout ratio is currently 33.38%.
In other Costco Wholesale news, Director Richard M. Libenson sold 2,049 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $224.00, for a total transaction of $458,976.00. Following the completion of the sale, the director now owns 3,049 shares of the company’s stock, valued at $682,976. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard A. Galanti sold 4,163 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total value of $945,958.49. Following the sale, the vice president now directly owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,312 shares of company stock valued at $14,547,272. Company insiders own 0.58% of the company’s stock.
A number of hedge funds have recently bought and sold shares of COST. Nikulski Financial Inc. lifted its stake in shares of Costco Wholesale by 6.6% during the second quarter. Nikulski Financial Inc. now owns 8,980 shares of the retailer’s stock worth $1,877,000 after purchasing an additional 555 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock worth $376,180,000 after purchasing an additional 23,227 shares in the last quarter. British Airways Pensions Investment Management Ltd lifted its stake in shares of Costco Wholesale by 0.8% during the second quarter. British Airways Pensions Investment Management Ltd now owns 104,814 shares of the retailer’s stock worth $21,904,000 after purchasing an additional 853 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Costco Wholesale by 12.8% during the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock worth $657,000 after purchasing an additional 359 shares in the last quarter. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the second quarter worth about $204,000. 71.82% of the stock is owned by hedge funds and other institutional investors.
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About Costco Wholesale (NASDAQ:COST)
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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