Costco Wholesale CFO Richard A. Galanti Sells 12,068 Shares (COST)
Costco Wholesale (NASDAQ:COST) CFO Richard A. Galanti sold 12,068 shares of the stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $118.97, for a total value of $1,435,729.96. Following the sale, the chief financial officer now directly owns 40,100 shares of the company’s stock, valued at approximately $4,770,697. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Costco Wholesale (NASDAQ:COST) traded down 0.58% during mid-day trading on Friday, hitting $118.57. The stock had a trading volume of 2,025,928 shares. Costco Wholesale has a 1-year low of $109.50 and a 1-year high of $126.12. The stock’s 50-day moving average is $117. and its 200-day moving average is $115.. The company has a market cap of $51.969 billion and a price-to-earnings ratio of 26.69.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 29th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Costco Wholesale will post $4.59 EPS 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target 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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