Insider Selling: Costco Wholesale Co. (COST) Director Sells $549,780.00 in Stock
Costco Wholesale Co. (NASDAQ:COST) Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,585,932.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Costco Wholesale Co. (NASDAQ:COST) opened at $187.22 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99. Costco Wholesale Co. has a 52 week low of $150.00 and a 52 week high of $191.22. The firm has a market capitalization of $82,075.39, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data 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. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion for the quarter, compared to analysts’ expectations of $41.55 billion. During the same period last year, the business earned $1.77 EPS. The business’s revenue was up 15.7% on a year-over-year basis. equities research analysts anticipate that Costco Wholesale Co. will post 6.46 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Delta Asset Management LLC TN raised its stake in shares of Costco Wholesale by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the period. Almanack Investment Partners LLC. bought a new stake in shares of Costco Wholesale during the 2nd quarter worth $101,000. Wealthcare Advisory Partners LLC purchased a new stake in Costco Wholesale in the 3rd quarter worth about $102,000. Jacobus Wealth Management Inc. purchased a new stake in Costco Wholesale in the 3rd quarter worth about $103,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale in the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
A number of analysts have weighed in on COST shares. Vetr raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a research report on Monday, August 21st. Deutsche Bank reissued a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a research report on Tuesday, September 5th. Citigroup reissued a “buy” rating and set a $190.00 target price (up previously from $187.00) on shares of Costco Wholesale in a research report on Monday, October 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $190.00 target price (up previously from $184.00) on shares of Costco Wholesale in a research report on Friday, October 6th. Finally, Jefferies Group reissued a “hold” rating and set a $162.00 target price (down previously from $168.00) on shares of Costco Wholesale in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $179.50.
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About Costco Wholesale
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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