Investors Buy Shares of Costco Wholesale Corporation (COST) on Weakness
Traders bought shares of Costco Wholesale Corporation (NASDAQ:COST) on weakness during trading on Tuesday. $103.65 million flowed into the stock on the tick-up and $66.58 million flowed out of the stock on the tick-down, for a money net flow of $37.07 million into the stock. Of all stocks tracked, Costco Wholesale Corporation had the 17th highest net in-flow for the day. Costco Wholesale Corporation traded down ($0.43) for the day and closed at $158.38
Several equities analysts have recently issued reports on the company. Deutsche Bank AG set a $172.00 price objective on Costco Wholesale Corporation and gave the company a “hold” rating in a research note on Monday, July 31st. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. BMO Capital Markets cut Costco Wholesale Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $185.00 to $160.00 in a research note on Monday, July 10th. Robert W. Baird reiterated a “buy” rating and issued a $200.00 price objective on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $173.00 price objective on shares of Costco Wholesale Corporation in a research note on Monday, October 9th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $178.50.
The firm has a 50-day moving average price of $160.51 and a 200 day moving average price of $164.27. The firm has a market cap of $68.88 billion, a PE ratio of 25.91 and a beta of 0.94.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to the consensus estimate of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. On average, equities research analysts expect that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.25, for a total transaction of $159,250.00. Following the sale, the director now owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $481,760 in the last ninety days. 0.74% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Delta Asset Management LLC TN raised its stake in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after acquiring an additional 65 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in Costco Wholesale Corporation during the 2nd quarter valued at $101,000. Northwest Investment Counselors LLC bought a new stake in Costco Wholesale Corporation during the 2nd quarter valued at $107,000. Mercer Capital Advisers Inc. raised its stake in Costco Wholesale Corporation by 3.5% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC raised its stake in Costco Wholesale Corporation by 16.7% during the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after acquiring an additional 100 shares in the last quarter. 72.49% of the stock is currently owned by hedge funds and other institutional investors.
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About Costco Wholesale Corporation
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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