Key Points
- Costco EVP Sarah Catherine George sold 756 shares for about $828,584 at an average price of $1,096.01, reducing her holdings by 19.54% to 3,112 shares.
- Costco reported quarterly earnings of $6.75 per share, beating the $6.54 analyst consensus, while revenue rose 11.1% year over year to $95.72 billion.
- The company declared a $30-per-share 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 Sarah Catherine George sold 756 shares of Costco Wholesale stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $1,096.01, for a total transaction of $828,583.56. Following the completion of the transaction, the executive vice president owned 3,112 shares of the company's stock, valued at $3,410,783.12. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Costco Wholesale Stock Performance
COST stock traded up $14.00 during midday trading on Friday, reaching $1,106.21. 1,873,135 shares of the company's stock traded hands, compared to its average volume of 2,385,142. The company has a 50-day moving average price of $967.12 and a two-hundred day moving average price of $975.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,109.50. The firm has a market capitalization of $490.19 billion, a PE ratio of 53.29, a price-to-earnings-growth ratio of 4.82 and a beta of 0.85.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $5.87 earnings per share. As a group, equities analysts anticipate that Costco Wholesale Corporation will post 22.70 EPS for the current year.
Costco Wholesale Announces Dividend
The business also recently disclosed a special dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be paid a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale's payout ratio is presently 28.32%.
Analyst Upgrades and Downgrades
Several research analysts have commented on COST shares. Raymond James Financial cut their target price on 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. Sanford C. Bernstein increased their price target on shares of Costco Wholesale from $1,143.00 to $1,155.00 and gave the stock an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,015.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. UBS Group reaffirmed a "buy" rating on shares of Costco Wholesale in a research note on Thursday, September 17th. Finally, Argus reaffirmed a "buy" rating and set a $1,230.00 price objective on shares of Costco Wholesale in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,092.23.
Get Our Latest Research Report on COST
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Entropy Technologies LP lifted its position in Costco Wholesale by 189.8% during the third quarter. Entropy Technologies LP now owns 22,966 shares of the retailer's stock valued at $20,907,000 after purchasing an additional 15,041 shares during the last quarter. Jump Financial LLC grew its stake in Costco Wholesale by 1,344.2% in the 3rd quarter. Jump Financial LLC now owns 72,731 shares of the retailer's stock worth $66,210,000 after buying an additional 67,695 shares in the last quarter. Flputnam Investment Management Co. grew its stake in Costco Wholesale by 8.0% in the 3rd quarter. Flputnam Investment Management Co. now owns 91,117 shares of the retailer's stock worth $82,948,000 after buying an additional 6,770 shares in the last quarter. Acorns Advisers LLC increased its holdings in shares of Costco Wholesale by 14.4% in the 3rd quarter. Acorns Advisers LLC now owns 2,995 shares of the retailer's stock worth $2,726,000 after buying an additional 377 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its holdings in shares of Costco Wholesale by 1.3% in the 3rd quarter. Perennial Investment Advisors LLC now owns 4,000 shares of the retailer's stock worth $3,642,000 after buying an additional 50 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.
Top Costco Wholesale Stories
These are some of the COST stories that stood out recently:
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
