Costco Wholesale Corporation (COST) Director Richard M. Libenson Sells 2,350 Shares
Costco Wholesale Corporation (NASDAQ:COST) Director Richard M. Libenson sold 2,350 shares of Costco Wholesale Corporation stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total value of $380,700.00. Following the sale, the director now directly owns 4,109 shares in the company, valued at approximately $665,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Costco Wholesale Corporation (NASDAQ COST) traded up 0.13% during midday trading on Tuesday, hitting $162.25. 2,767,748 shares of the company traded hands. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The firm has a market capitalization of $70.94 billion, a PE ratio of 26.69 and a beta of 0.94. The stock’s 50-day moving average is $160.84 and its 200-day moving average is $164.09.
Costco Wholesale Corporation (NASDAQ:COST) last announced its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The business had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. Analysts anticipate that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in COST. Delta Asset Management LLC TN boosted its holdings in Costco Wholesale Corporation by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Costco Wholesale Corporation during the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in Costco Wholesale Corporation during the second quarter worth $107,000. Mercer Capital Advisers Inc. boosted its holdings in Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after purchasing an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its holdings in Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. UBS AG raised Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Cowen and Company reaffirmed an “outperform” rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Stifel Nicolaus set a $173.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $178.50.
Costco Wholesale Corporation Company Profile
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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