Costco Wholesale’s (NASDAQ:COST) same store sales climbed 8.6% during the month of March. Costco Wholesale’s shares rose by 0% in the first day of trading following the news.
Several brokerages have recently issued reports on COST. Argus lifted their price target on Costco Wholesale to $200.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 price target on the stock in a research note on Friday, January 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $205.00 price target (down previously from $209.00) on shares of Costco Wholesale in a research note on Thursday, March 8th. Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $200.28 price target on the stock in a research note on Monday, February 12th. Finally, BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 9th. Eight 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. Costco Wholesale presently has an average rating of “Buy” and a consensus price target of $192.14.
In other Costco Wholesale news, insider Russell D. Miller sold 12,393 shares of the company’s stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $194.12, for a total value of $2,405,729.16. Following the sale, the insider now owns 1 shares in the company, valued at approximately $194.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy L. Rose sold 17,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $185.33, for a total value of $3,150,610.00. Following the completion of the sale, the vice president now owns 34,903 shares in the company, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. Insiders sold a total of 62,067 shares of company stock worth $11,690,902 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). Costco Wholesale had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same quarter last year, the firm posted $1.17 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. equities research analysts expect that Costco Wholesale will post 6.77 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of Costco Wholesale by 137.0% in the 4th 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. Wealthcare Advisory Partners LLC acquired a new position in shares of Costco Wholesale in the 3rd quarter valued at about $102,000. Jacobus Wealth Management Inc. acquired a new position in shares of Costco Wholesale in the 3rd quarter valued at about $103,000. American Beacon Advisors Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $120,000. Finally, Shamrock Asset Management LLC lifted its stake in shares of Costco Wholesale by 171.3% in the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock valued at $109,000 after purchasing an additional 418 shares during the period. Hedge funds and other institutional investors own 72.95% of the company’s stock.
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Costco Wholesale Company Profile
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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