Costco Wholesale Co. (COST) VP Sells $667,800.00 in Stock
Costco Wholesale Co. (NASDAQ:COST) VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $166.95, for a total value of $667,800.00. Following the completion of the sale, the vice president now owns 44,049 shares in the company, valued at $7,353,980.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Costco Wholesale Co. (NASDAQ:COST) opened at 167.44 on Tuesday. The company’s 50 day moving average price is $170.16 and its 200 day moving average price is $158.44. Costco Wholesale Co. has a one year low of $138.57 and a one year high of $178.71. The stock has a market capitalization of $73.50 billion, a price-to-earnings ratio of 30.89 and a beta of 0.89.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 2nd. The retailer reported $1.17 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $29.75 billion. During the same period in the prior year, the firm posted $1.24 EPS. Costco Wholesale’s revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post $5.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders 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 yield of 1.08%. The ex-dividend date was Wednesday, February 8th. Costco Wholesale’s dividend payout ratio is presently 32.79%.
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Several research firms recently commented on COST. Jefferies Group LLC set a $156.00 target price on Costco Wholesale and gave the company a “hold” rating in a research report on Monday, March 6th. Nomura set a $185.00 price target on Costco Wholesale and gave the company a “buy” rating in a research note on Thursday, December 1st. Vetr raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $177.50 price target for the company in a research note on Monday, March 6th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $185.00 price target (up from $175.00) on shares of Costco Wholesale in a research note on Thursday, January 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $170.00 price target (up from $158.00) on shares of Costco Wholesale in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $178.69.
A number of hedge funds have recently added to or reduced their stakes in COST. State Street Corp boosted its stake in Costco Wholesale by 1.7% in the fourth quarter. State Street Corp now owns 17,892,082 shares of the retailer’s stock valued at $2,864,688,000 after buying an additional 306,669 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Costco Wholesale by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,644,774 shares of the retailer’s stock valued at $1,775,944,000 after buying an additional 96,575 shares during the last quarter. Capital Research Global Investors boosted its stake in Costco Wholesale by 2.2% in the third quarter. Capital Research Global Investors now owns 9,349,671 shares of the retailer’s stock valued at $1,425,918,000 after buying an additional 199,619 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Costco Wholesale by 3.6% in the third quarter. BlackRock Fund Advisors now owns 5,930,106 shares of the retailer’s stock valued at $904,400,000 after buying an additional 204,990 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Costco Wholesale by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 5,713,948 shares of the retailer’s stock valued at $871,434,000 after buying an additional 252,713 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.
About Costco Wholesale
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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