Investors Purchase High Volume of Costco Wholesale Corporation Put Options (COST)
Costco Wholesale Corporation (NASDAQ:COST) saw some unusual options trading on Thursday. Stock traders acquired 6,031 put options on the stock. This is an increase of 231% compared to the typical volume of 1,822 put options.
Several brokerages have recently issued reports on COST. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Friday, May 26th. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. Sanford C. Bernstein reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $185.00 price objective on Costco Wholesale Corporation and gave the company a “buy” rating in a research note on Saturday, May 27th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $190.00 price objective (up previously from $185.00) on shares of Costco Wholesale Corporation in a research note on Sunday, May 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Costco Wholesale Corporation has a consensus rating of “Buy” and a consensus price target of $179.11.
Costco Wholesale Corporation (NASDAQ:COST) opened at 157.08 on Friday. The company’s 50-day moving average price is $155.32 and its 200-day moving average price is $167.38. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The firm has a market cap of $68.89 billion, a price-to-earnings ratio of 27.27 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, May 25th. The retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The firm had revenue of $28.86 billion for the quarter, compared to analysts’ expectations of $28.57 billion. During the same period last year, the firm earned $1.24 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Costco Wholesale Corporation will post $5.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.50 dividend. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, August 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
In other news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the transaction, the director now owns 5,974 shares in the company, valued at approximately $957,512.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Mckay sold 3,000 shares of Costco Wholesale Corporation stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $181.60, for a total value of $544,800.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 15,000 shares of company stock valued at $2,677,430. 0.74% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Delta Asset Management LLC TN boosted its stake in Costco Wholesale Corporation by 11.6% in the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after buying an additional 65 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in Costco Wholesale Corporation during the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale Corporation during the second quarter valued at approximately $107,000. Mercer Capital Advisers Inc. boosted its stake in Costco Wholesale Corporation by 3.5% in the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after buying an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in Costco Wholesale Corporation by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.
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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