Costco Wholesale Co. (NASDAQ:COST) Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $208.42, for a total transaction of $625,260.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,803,666.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Costco Wholesale opened at $207.12 on Thursday, according to MarketBeat Ratings. The stock has a market cap of $90.83 billion, a PE ratio of 31.57, a PEG ratio of 2.75 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $212.46. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. The business had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. research analysts predict that Costco Wholesale Co. will post 6.76 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in Costco Wholesale by 137.0% in the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock valued at $105,000 after purchasing an additional 326 shares during the period. Well Done LLC purchased a new stake in Costco Wholesale in the first quarter valued at approximately $109,000. Smart Portfolios LLC purchased a new stake in Costco Wholesale in the first quarter valued at approximately $113,000. Trilogy Capital Inc. purchased a new stake in Costco Wholesale in the first quarter valued at approximately $116,000. Finally, American Beacon Advisors Inc. purchased a new stake in Costco Wholesale in the fourth quarter valued at approximately $120,000. Hedge funds and other institutional investors own 71.36% of the company’s stock.
Several brokerages recently commented on COST. ValuEngine upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Loop Capital raised their price objective on shares of Costco Wholesale to $230.00 and gave the company a “buy” rating in a research note on Wednesday, June 20th. Susquehanna Bancshares restated a “positive” rating on shares of Costco Wholesale in a report on Thursday, June 7th. Royal Bank of Canada raised their target price on shares of Costco Wholesale to $213.00 and gave the company an “outperform” rating in a report on Tuesday, May 29th. Finally, Citigroup raised their target price on shares of Costco Wholesale from $217.00 to $222.00 and gave the company a “buy” rating in a report on Friday, June 1st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $200.29.
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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