Costco Wholesale Co.’s January Same-Store Sales Numbers Beat Analysts’ Estimates (NASDAQ:COST)
Costco Wholesale’s (NASDAQ:COST) same-store sales rose 6% during the month of January. Costco Wholesale’s stock fell by 0.8% in the first day of trading following the news.
Several analysts have commented on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Thursday, November 30th. Susquehanna Bancshares lifted their target price on shares of Costco Wholesale from $205.00 to $215.00 and gave the stock a “positive” rating in a research note on Friday, December 15th. Barclays reaffirmed a “buy” rating and issued a $208.00 target price on shares of Costco Wholesale in a research note on Tuesday, December 19th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Friday, January 12th. Finally, Telsey Advisory Group lifted their target price on shares of Costco Wholesale from $186.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus price target of $189.97.
In other news, insider Daniel M. Hines sold 5,000 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $188.62, for a total transaction of $943,100.00. Following the completion of the sale, the insider now directly owns 30,853 shares of the company’s stock, valued at approximately $5,819,492.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the sale, the chief financial officer now directly owns 35,225 shares of the company’s stock, valued at $6,021,713.75. The disclosure for this sale can be found here. Insiders have sold a total of 102,296 shares of company stock valued at $19,323,086 over the last three months. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The firm had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same period in the prior year, the company earned $1.24 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. sell-side analysts predict that Costco Wholesale will post 6.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
A number of institutional investors have recently made changes to their positions in COST. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale during the 2nd quarter worth $101,000. Wealthcare Advisory Partners LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth $102,000. Jacobus Wealth Management Inc. purchased a new stake in Costco Wholesale during the 3rd quarter worth $103,000. Shamrock Asset Management LLC boosted its position in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares during the period. Finally, Zions Bancorporation boosted its position in Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares during the period. 72.27% of the stock is owned by hedge funds and other institutional investors.
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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