Traders Buy Costco Wholesale (COST) on Weakness

Traders purchased shares of Costco Wholesale Co. (NASDAQ:COST) on weakness during trading on Thursday. $92.69 million flowed into the stock on the tick-up and $71.61 million flowed out of the stock on the tick-down, for a money net flow of $21.08 million into the stock. Of all companies tracked, Costco Wholesale had the 23rd highest net in-flow for the day. Costco Wholesale traded down ($1.32) for the day and closed at $208.71

COST has been the topic of several research analyst reports. Loop Capital initiated coverage on Costco Wholesale in a research note on Wednesday, May 16th. They issued a “buy” rating and a $224.00 price objective on the stock. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 9th. Citigroup lifted their price target on Costco Wholesale from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Friday, June 1st. Argus lifted their price target on Costco Wholesale from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Finally, ValuEngine raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $200.29.

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47. The stock has a market capitalization of $92.13 billion, a PE ratio of 35.86, a PEG ratio of 2.79 and a beta of 0.95.

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

In other Costco Wholesale news, VP Timothy L. Rose sold 2,500 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $205.19, for a total value of $512,975.00. Following the completion of the sale, the vice president now directly owns 20,403 shares in the company, valued at $4,186,491.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $186.91, for a total value of $560,730.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at $1,617,519.14. The disclosure for this sale can be found here. Insiders have sold 38,884 shares of company stock valued at $7,741,396 over the last 90 days. 0.74% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Assetmark Inc. increased its holdings in Costco Wholesale by 137.0% in the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after purchasing an additional 326 shares in the last quarter. Well Done LLC bought a new stake in Costco Wholesale in the first quarter worth approximately $109,000. Smart Portfolios LLC bought a new stake in Costco Wholesale in the first quarter worth approximately $113,000. Trilogy Capital Inc. bought a new stake in Costco Wholesale in the first quarter worth approximately $116,000. Finally, American Beacon Advisors Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $120,000. Institutional investors and hedge funds own 71.36% of the company’s stock.

Costco Wholesale Company Profile

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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