Key Points
- EVP Teresa Jones sold 900 Costco shares for about $975,555, reducing her holdings by 13.64% to 5,698 shares.
- Costco’s latest quarterly results beat estimates: earnings were $6.75 per share versus $6.54 expected, and revenue reached $95.72 billion, up 11.1% year over year.
- The company announced a $30 special dividend, payable December 4 to shareholders of record November 24. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $1,092.23.
Costco Wholesale Corporation (NASDAQ:COST - Get Free Report) EVP Teresa Jones sold 900 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $1,083.95, for a total value of $975,555.00. Following the sale, the executive vice president owned 5,698 shares in the company, valued at $6,176,347.10. The trade was a 13.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Costco Wholesale Trading Up 0.4%
Shares of NASDAQ COST opened at $1,092.21 on Friday. The company has a market cap of $483.99 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 4.81 and a beta of 0.85. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,102.84. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock's 50 day simple moving average is $963.50 and its 200 day simple moving average is $974.45.
Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, topping analysts' consensus estimates of $6.54 by $0.21. The firm had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.87 EPS. Equities research analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current year.
Costco Wholesale Dividend Announcement
The business also recently announced a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be paid a $30.00 dividend. The ex-dividend date is Tuesday, November 24th. Costco Wholesale's dividend payout ratio (DPR) is presently 28.32%.
Analysts Set New Price Targets
COST has been the subject of several recent research reports. Jefferies Financial Group lowered their price target on shares of Costco Wholesale from $1,130.00 to $1,100.00 in a research report on Friday, September 25th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, November 5th. Raymond James Financial reduced their target price on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an "outperform" rating for the company in a research note on Friday, September 25th. Finally, UBS Group restated a "buy" rating on shares of Costco Wholesale in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,092.23.
Read Our Latest Stock Analysis on Costco Wholesale
Trending Headlines about Costco Wholesale
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Institutional Trading of Costco Wholesale
Several hedge funds have recently added to or reduced their stakes in COST. Bank of America Corp DE acquired a new position in shares of Costco Wholesale during the second quarter valued at $6,781,946,000. State Street Corp raised its stake in shares of Costco Wholesale by 31.7% during the second quarter. State Street Corp now owns 23,901,594 shares of the retailer's stock valued at $22,359,224,000 after purchasing an additional 5,749,362 shares in the last quarter. Legal & General Group Plc acquired a new stake in Costco Wholesale in the second quarter worth about $2,362,188,000. Ascentis Wealth Management LLC lifted its holdings in Costco Wholesale by 103,637.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer's stock worth $2,549,616,000 after purchasing an additional 2,497,652 shares during the period. Finally, Corient Private Wealth LP acquired a new stake in Costco Wholesale in the second quarter worth about $726,689,000. Institutional investors own 68.48% of the company's stock.
About Costco Wholesale
(
Get Free Report)
Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.
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