Costco Wholesale Corporation Sees Unusually High Options Volume (COST)
Costco Wholesale Corporation (NASDAQ:COST) was the target of unusually large options trading on Thursday. Traders purchased 20,702 call options on the company. This represents an increase of 169% compared to the average daily volume of 7,689 call options.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 152.55 on Tuesday. The firm has a market capitalization of $66.91 billion, a PE ratio of 26.48 and a beta of 0.93. The company’s 50-day moving average price is $155.03 and its 200 day moving average price is $167.02. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
A number of research analysts recently issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale Corporation in a report on Friday. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 24th. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective for the company in a report on Monday, August 21st. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Finally, Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. One investment 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 assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $179.56.
In related news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $160.28, for a total transaction of $160,280.00. Following the completion of the transaction, the director now directly owns 5,974 shares in the company, valued at $957,512.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James P. Murphy sold 5,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $181.30, for a total value of $906,500.00. Following the transaction, the vice president now owns 48,845 shares of the company’s stock, valued at $8,855,598.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Reilly Financial Advisors LLC boosted its position in Costco Wholesale Corporation by 2.4% in the first quarter. Reilly Financial Advisors LLC now owns 3,847 shares of the retailer’s stock worth $645,000 after buying an additional 90 shares during the period. Howland Capital Management LLC purchased a new position in Costco Wholesale Corporation during the first quarter worth $216,000. First United Bank Trust boosted its position in Costco Wholesale Corporation by 4.8% in the first quarter. First United Bank Trust now owns 2,733 shares of the retailer’s stock worth $458,000 after buying an additional 125 shares during the period. Washington Trust Bank boosted its position in Costco Wholesale Corporation by 5.1% in the first quarter. Washington Trust Bank now owns 20,360 shares of the retailer’s stock worth $3,414,000 after buying an additional 985 shares during the period. Finally, Pinnacle Bank purchased a new position in Costco Wholesale Corporation during the first quarter worth $286,000. Institutional investors and hedge funds own 72.51% of the company’s stock.
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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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