Costco Wholesale Corp. (NASDAQ:COST) Director James D. Sinegal sold 20,114 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $149.02, for a total value of $2,997,388.28. Following the sale, the director now directly owns 768,136 shares in the company, valued at approximately $114,467,626.72. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 150.46 on Thursday. The company has a market cap of $65.83 billion, a price-to-earnings ratio of 28.23 and a beta of 0.71. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73. The firm has a 50 day moving average price of $154.02 and a 200-day moving average price of $156.14.
Costco Wholesale Corp. (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The firm earned $35.73 billion during the quarter. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts expect that Costco Wholesale Corp. will post $5.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. Costco Wholesale Corp.’s dividend payout ratio is presently 33.71%.
Hedge funds have recently modified their holdings of the stock. FCM Investments TX acquired a new stake in shares of Costco Wholesale Corp. during the second quarter valued at approximately $133,000. Zions Bancorporation raised its stake in shares of Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock valued at $139,000 after buying an additional 417 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock valued at $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. raised its stake in shares of Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock valued at $169,000 after buying an additional 111 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock valued at $172,000 after buying an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 73.11% of the company’s stock.
Several analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Costco Wholesale Corp. in a report on Monday. Vetr raised Costco Wholesale Corp. from a “buy” rating to a “strong-buy” rating in a report on Monday. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale Corp. in a report on Saturday, October 8th. Cowen and Company reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Costco Wholesale Corp. in a report on Thursday, October 6th. Finally, Argus reaffirmed a “buy” rating and issued a $175.00 price target on shares of Costco Wholesale Corp. in a report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $172.74.
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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