Insider Selling: John D. Mckay Unloads 12,000 Shares of Costco Wholesale Stock (COST)
Costco Wholesale (NASDAQ:COST) EVP John D. Mckay sold 12,000 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $118.94, for a total transaction of $1,427,280.00. Following the transaction, the executive vice president now directly owns 53,941 shares in the company, valued at approximately $6,415,743. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.02% during mid-day trading on Monday, hitting $119.18. 1,232,987 shares of the company’s stock traded hands. Costco Wholesale has a 52-week low of $109.50 and a 52-week high of $126.12. The stock’s 50-day moving average is $117.3 and its 200-day moving average is $115.. The company has a market cap of $52.236 billion and a P/E ratio of 26.67.
Costco Wholesale (NASDAQ:COST) last released its earnings data on Thursday, May 29th. The company reported $1.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.09 by $0.02. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.70 billion. During the same quarter last year, the company posted $1.04 earnings per share. Costco Wholesale’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Costco Wholesale will post $4.59 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on COST shares. Analysts at S&P Equity Research raised their price target on shares of Costco Wholesale from $459.00 to $473.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs upgraded shares of Costco Wholesale from a “neutral” rating to a “conviction-buy” rating in a research note on Tuesday, July 29th. They now have a $136.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Costco Wholesale in a research note on Tuesday, June 24th. They set an “overweight” rating and a $134.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $159.27.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.
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