Investors Buy High Volume of Costco Wholesale Corporation Call Options (NASDAQ:COST)
Costco Wholesale Corporation (NASDAQ:COST) saw some unusual options trading activity on Wednesday. Stock traders bought 4,451 call options on the company. This represents an increase of approximately 104% compared to the typical volume of 2,178 call options.
In other Costco Wholesale Corporation news, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $181.32, for a total value of $906,600.00. Following the completion of the sale, the insider now owns 28,786 shares in the company, valued at approximately $5,219,477.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John D. Mckay sold 3,000 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $181.60, for a total transaction of $544,800.00. Following the completion of the sale, the insider now owns 62,607 shares of the company’s stock, valued at approximately $11,369,431.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock valued at $2,518,180. 0.74% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Costco Wholesale Corporation during the fourth quarter valued at $553,367,000. Ameriprise Financial Inc. increased its position in shares of Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after buying an additional 1,753,741 shares during the period. Renaissance Technologies LLC increased its position in shares of Costco Wholesale Corporation by 35.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,819,713 shares of the retailer’s stock valued at $451,464,000 after buying an additional 733,500 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Costco Wholesale Corporation by 1,607.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 769,613 shares of the retailer’s stock valued at $123,279,000 after buying an additional 724,536 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Costco Wholesale Corporation during the fourth quarter valued at $94,176,000. Institutional investors and hedge funds own 73.89% of the company’s stock.
Shares of Costco Wholesale Corporation (NASDAQ:COST) opened at 154.11 on Friday. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The stock has a 50 day moving average of $172.28 and a 200-day moving average of $169.16. The firm has a market capitalization of $67.59 billion, a price-to-earnings ratio of 26.76 and a beta of 0.94.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, equities analysts anticipate that Costco Wholesale Corporation will post $5.77 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a research note on Friday. Guggenheim reissued a “neutral” rating on shares of Costco Wholesale Corporation in a research note on Thursday. Vetr raised shares of Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $165.58 price target for the company in a research note on Thursday, June 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price target on shares of Costco Wholesale Corporation in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $180.35.
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About Costco Wholesale Corporation
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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