Costco’s (NASDAQ:COST) same store sales increased by 10.9% in the month of April. Costco’s stock rose by 0% in the first day of trading following the news.
Several analysts have recently commented on the company. Loop Capital assumed coverage on Costco in a report on Wednesday. They set a “buy” rating and a $224.00 price objective for the company. BidaskClub lowered Costco from a “strong-buy” rating to a “buy” rating in a report on Friday, March 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 price objective (down previously from $209.00) on shares of Costco in a report on Thursday, March 8th. Vetr upgraded Costco from a “hold” rating to a “buy” rating and set a $200.28 price objective for the company in a report on Monday, February 5th. Finally, Argus increased their price objective on Costco to $200.00 and gave the company a “buy” rating in a report on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Costco has an average rating of “Buy” and a consensus target price of $193.37.
In other Costco news, insider Russell D. Miller sold 12,393 shares of Costco stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $194.12, for a total transaction of $2,405,729.16. Following the completion of the transaction, the insider now owns 1 shares in the company, valued at approximately $194.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy L. Rose sold 17,000 shares of Costco 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 transaction, the vice president now owns 34,903 shares of the company’s stock, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. Insiders have sold a total of 62,067 shares of company stock valued at $11,700,142 in the last quarter. Company insiders own 0.74% of the company’s stock.
NASDAQ COST opened at $198.96 on Friday. The stock has a market cap of $87.59 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.82 and a beta of 0.95. Costco has a fifty-two week low of $150.00 and a fifty-two week high of $201.35. The company has a quick ratio of 0.44, a current ratio of 1.00 and a debt-to-equity ratio of 0.54.
Costco (NASDAQ:COST) last released its quarterly earnings data on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.03). Costco had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. analysts forecast that Costco will post 6.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 10th. This is a boost from Costco’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.15%. Costco’s dividend payout ratio (DPR) is 39.18%.
Several large investors have recently bought and sold shares of COST. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Costco by 3.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,818 shares of the retailer’s stock valued at $16,071,000 after acquiring an additional 2,901 shares during the period. Pinnacle Financial Partners Inc. grew its position in shares of Costco by 3.3% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 12,338 shares of the retailer’s stock valued at $2,028,000 after acquiring an additional 399 shares during the period. First Interstate Bank grew its position in shares of Costco by 5.3% during the 3rd quarter. First Interstate Bank now owns 37,003 shares of the retailer’s stock valued at $6,080,000 after acquiring an additional 1,873 shares during the period. D.A. Davidson & CO. grew its position in shares of Costco by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 125,114 shares of the retailer’s stock valued at $20,555,000 after acquiring an additional 2,243 shares during the period. Finally, Norinchukin Bank The grew its position in shares of Costco by 2.7% during the 3rd quarter. Norinchukin Bank The now owns 72,907 shares of the retailer’s stock valued at $11,978,000 after acquiring an additional 1,907 shares during the period. Hedge funds and other institutional investors own 72.99% of the company’s stock.
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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