Investors bought shares of Costco Wholesale Corp. (NASDAQ:COST) on weakness during trading hours on Monday after Citigroup lowered their price target on the stock from $172.00 to $167.00. $126.17 million flowed into the stock on the tick-up and $90.30 million flowed out of the stock on the tick-down, for a money net flow of $35.87 million into the stock. Of all equities tracked, Costco Wholesale Corp. had the 17th highest net in-flow for the day. Costco Wholesale Corp. traded down ($1.50) for the day and closed at $151.01
COST has been the topic of several other research reports. Robert W. Baird set a $175.00 price target on shares of Costco Wholesale Corp. and gave the company a “buy” rating in a research report on Friday, September 23rd. Piper Jaffray Cos. restated an “overweight” rating on shares of Costco Wholesale Corp. in a report on Wednesday, September 7th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale Corp. in a report on Sunday, September 4th. BMO Capital Markets restated an “outperform” rating and issued a $180.00 price objective on shares of Costco Wholesale Corp. in a report on Sunday, September 4th. Finally, Nomura restated a “buy” rating and issued a $185.00 price objective on shares of Costco Wholesale Corp. in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Costco Wholesale Corp. currently has an average rating of “Buy” and an average target price of $172.74.
In other Costco Wholesale Corp. news, Director John W. Meisenbach sold 5,737 shares of Costco Wholesale Corp. stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $167.74, for a total value of $962,324.38. Following the completion of the transaction, the director now directly owns 4,652 shares of the company’s stock, valued at approximately $780,326.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard A. Galanti sold 2,400 shares of Costco Wholesale Corp. stock in a transaction on Monday, July 11th. The stock was sold at an average price of $167.08, for a total transaction of $400,992.00. Following the completion of the transaction, the chief financial officer now directly owns 30,536 shares of the company’s stock, valued at $5,101,954.88. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Buffington Mohr McNeal raised its stake in Costco Wholesale Corp. by 6.3% in the first quarter. Buffington Mohr McNeal now owns 41,172 shares of the retailer’s stock valued at $6,488,000 after buying an additional 2,435 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Costco Wholesale Corp. during the first quarter worth $1,512,000. Aperio Group LLC raised its stake in shares of Costco Wholesale Corp. by 1.6% in the first quarter. Aperio Group LLC now owns 249,224 shares of the retailer’s stock worth $39,273,000 after buying an additional 3,817 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Costco Wholesale Corp. by 3.0% in the first quarter. Commonwealth Equity Services Inc now owns 144,765 shares of the retailer’s stock worth $22,812,000 after buying an additional 4,217 shares during the last quarter. Finally, Telemus Capital LLC bought a new stake in shares of Costco Wholesale Corp. during the first quarter worth $400,000. Hedge funds and other institutional investors own 73.02% of the company’s stock.
The company has a market capitalization of $66.07 billion, a P/E ratio of 28.33 and a beta of 0.71. The firm’s 50 day moving average price is $158.09 and its 200 day moving average price is $156.31.
Costco Wholesale Corp. (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.04. The company earned $35.73 billion during the quarter. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. Equities research analysts forecast that Costco Wholesale Corp. will post $5.95 earnings per share for the current fiscal year.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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