Costco Wholesale Co. (NASDAQ:COST) Director Susan L. Decker sold 2,790 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $254.62, for a total transaction of $710,389.80. Following the sale, the director now owns 45,405 shares in the company, valued at $11,561,021.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
COST opened at $257.11 on Wednesday. The firm has a market cap of $113.07 billion, a P/E ratio of 37.64, a P/E/G ratio of 3.59 and a beta of 0.91. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. Costco Wholesale’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $1.70 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.01%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, May 9th. Costco Wholesale’s dividend payout ratio (DPR) is presently 38.07%.
Costco Wholesale declared that its board has authorized a stock buyback plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Horan Capital Advisors LLC. purchased a new position in shares of Costco Wholesale in the 1st quarter worth $26,000. ERTS Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth $30,000. Permanens Capital L.P. purchased a new position in shares of Costco Wholesale in the 1st quarter worth $31,000. Arbor Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth $33,000. Finally, PRW Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth $36,000. 71.14% of the stock is owned by institutional investors.
Several brokerages have recently commented on COST. BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a research report on Tuesday. Morgan Stanley raised their price objective on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. BMO Capital Markets set a $275.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Citigroup decreased their price objective on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $252.13.
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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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