Insider Selling: Costco Wholesale Chairman Sells 161,445 Shares of Stock (COST)
Costco Wholesale (NASDAQ:COST) Chairman Jeffrey H. Brotman sold 161,445 shares of the stock 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 of the company’s stock, valued at approximately $13,496,664. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on COST. 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 given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $159.27.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.43% during mid-day trading on Wednesday, hitting $121.13. 763,926 shares of the company’s stock traded hands. Costco Wholesale has a one year low of $109.50 and a one year high of $126.12. The stock’s 50-day moving average is $117.8 and its 200-day moving average is $115.3. The company has a market cap of $53.091 billion and a P/E ratio of 26.99.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 29th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the 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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