Insider Selling: Jeffrey H. Brotman Sells 161,445 Shares of Costco Wholesale Stock (COST)
Costco Wholesale (NASDAQ:COST) Chairman Jeffrey H. Brotman sold 161,445 shares of Costco Wholesale stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.23, for a total value of $19,087,642.35. Following the transaction, the chairman now directly owns 114,156 shares in the company, valued at approximately $13,496,664. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $159.27.
Costco Wholesale (NASDAQ:COST) traded up 0.75% on Monday, hitting $119.46. 1,240,085 shares of the company’s stock traded hands. 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 $117.7 and its 200-day moving average is $115.2. The company has a market cap of $52.359 billion and a price-to-earnings ratio of 26.54.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that Costco Wholesale will post $4.59 earnings per share for the current fiscal year.
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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