Investors Buy Shares of Costco Wholesale (COST) on Weakness

Traders bought shares of Costco Wholesale Co. (NASDAQ:COST) on weakness during trading on Tuesday. $131.70 million flowed into the stock on the tick-up and $77.85 million flowed out of the stock on the tick-down, for a money net flow of $53.85 million into the stock. Of all companies tracked, Costco Wholesale had the 11th highest net in-flow for the day. Costco Wholesale traded down ($1.66) for the day and closed at $210.09

A number of equities research analysts recently issued reports on COST shares. Loop Capital upped their price objective on shares of Costco Wholesale to $230.00 and gave the stock a “buy” rating in a report on Wednesday, June 20th. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Argus upped their price objective on shares of Costco Wholesale from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Citigroup upped their price objective on shares of Costco Wholesale from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Friday, June 1st. Finally, Susquehanna Bancshares reiterated a “positive” rating on shares of Costco Wholesale in a report on Thursday, June 7th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $199.15.

The firm has a market cap of $92.58 billion, a PE ratio of 36.10, a PEG ratio of 2.80 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 0.52.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. The business had revenue of $32.36 billion during the quarter, compared to analyst estimates of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. equities analysts forecast that Costco Wholesale Co. will post 6.76 EPS for the current fiscal year.

In other news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $186.91, for a total transaction of $560,730.00. Following the completion of the transaction, the director now owns 8,654 shares of the company’s stock, valued at $1,617,519.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard A. Galanti sold 2,406 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $207.11, for a total transaction of $498,306.66. Following the transaction, the vice president now directly owns 25,474 shares of the company’s stock, valued at approximately $5,275,920.14. The disclosure for this sale can be found here. Insiders have sold 38,884 shares of company stock valued at $7,741,396 in the last ninety days. 0.58% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Magellan Asset Management Ltd raised its position in Costco Wholesale by 2.4% in the fourth quarter. Magellan Asset Management Ltd now owns 6,588,695 shares of the retailer’s stock worth $1,226,288,000 after purchasing an additional 154,320 shares in the last quarter. Geode Capital Management LLC raised its position in Costco Wholesale by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,013,862 shares of the retailer’s stock worth $931,370,000 after purchasing an additional 128,366 shares in the last quarter. Fisher Asset Management LLC raised its position in Costco Wholesale by 7.0% in the first quarter. Fisher Asset Management LLC now owns 2,488,816 shares of the retailer’s stock worth $468,968,000 after purchasing an additional 162,335 shares in the last quarter. Clearbridge Investments LLC raised its position in Costco Wholesale by 252.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,388,496 shares of the retailer’s stock worth $444,547,000 after purchasing an additional 1,711,003 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Costco Wholesale by 73.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,100,913 shares of the retailer’s stock worth $391,022,000 after purchasing an additional 890,200 shares in the last quarter. 71.36% of the stock is owned by institutional investors and hedge funds.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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