Costco Wholesale Corporation Same Store Sales Grow 7.5% in October, Stock Falls by 6% (NASDAQ:COST)

Costco Wholesale Corporation’s (NASDAQ:COST) same-store sales climbed 7.5% during the month of October. Costco Wholesale Corporation’s stock fell by 6% in the first day of trading following the news.

Several brokerages recently issued reports on COST. Cowen and Company reiterated an “outperform” rating on shares of Costco Wholesale Corporation in a research note on Monday, July 24th. Stifel Nicolaus set a $173.00 price target on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, August 3rd. Vetr lowered shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating and set a $183.04 price target for the company. in a research note on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $185.00 price target on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Twelve investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $178.34.

In other Costco Wholesale Corporation news, Director Richard M. Libenson sold 2,350 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the sale, the director now owns 4,109 shares in the company, valued at approximately $665,658. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the sale, the vice president now owns 41,396 shares in the company, valued at approximately $6,647,369.68. The disclosure for this sale can be found here. In the last three months, insiders sold 19,731 shares of company stock worth $3,214,389. 0.74% of the stock is currently owned by insiders.

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Shares of Costco Wholesale Corporation (NASDAQ COST) opened at $171.36 on Friday. Costco Wholesale Corporation has a one year low of $145.38 and a one year high of $183.18. The company has a market cap of $73,899.31, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.93. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59.

Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter last year, the business earned $1.77 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. equities analysts forecast that Costco Wholesale Corporation will post 6.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s payout ratio is 32.89%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC raised its stake in Costco Wholesale Corporation by 199.1% during the 3rd quarter. Zeke Capital Advisors LLC now owns 8,956 shares of the retailer’s stock worth $1,471,000 after acquiring an additional 5,962 shares during the period. Amalgamated Bank raised its position in shares of Costco Wholesale Corporation by 1.9% during the third quarter. Amalgamated Bank now owns 52,687 shares of the retailer’s stock valued at $8,656,000 after buying an additional 1,001 shares during the last quarter. Auxier Asset Management raised its position in shares of Costco Wholesale Corporation by 5.1% during the third quarter. Auxier Asset Management now owns 10,275 shares of the retailer’s stock valued at $1,688,000 after buying an additional 501 shares during the last quarter. Taylor Asset Management Inc. bought a new stake in shares of Costco Wholesale Corporation during the third quarter valued at approximately $657,000. Finally, Destination Wealth Management raised its position in shares of Costco Wholesale Corporation by 3.5% during the third quarter. Destination Wealth Management now owns 126,022 shares of the retailer’s stock valued at $20,704,000 after buying an additional 4,240 shares during the last quarter. Institutional investors own 72.57% of the company’s stock.

Costco Wholesale Corporation Company Profile

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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