Costco Wholesale Corporation’s October Same-Store Sales Numbers Beat Analysts’ Expectations (NASDAQ:COST)
Costco Wholesale Corporation’s (NASDAQ:COST) same store sales rose 7.5% in the month of October. Costco Wholesale Corporation’s shares fell by 6% in the first day of trading following the report.
COST has been the topic of several research reports. TheStreet raised Costco Wholesale Corporation from a “c” rating to a “b” rating in a research report on Monday, October 9th. Cowen and Company set a $180.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. Vetr raised Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $168.75 target price on the stock in a research report on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating on shares of Costco Wholesale Corporation in a research report on Friday, July 7th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a research report on Thursday, July 6th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Costco Wholesale Corporation has an average rating of “Buy” and an average target price of $178.50.
In other news, VP Dennis R. Zook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the sale, the vice president now directly owns 626 shares in the company, valued at approximately $101,361.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Libenson sold 2,350 shares of the firm’s stock in a transaction dated 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 owns 4,109 shares in the company, valued at $665,658. The disclosure for this sale can be found here. Insiders have sold a total of 14,350 shares of company stock worth $2,315,710 over the last 90 days. Insiders own 0.74% of the company’s stock.
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Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.55 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Costco Wholesale Corporation’s dividend payout ratio (DPR) is 32.89%.
Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Costco Wholesale Corporation by 3,005.9% during the second quarter. Janus Henderson Group PLC now owns 4,180,770 shares of the retailer’s stock worth $668,630,000 after buying an additional 4,046,164 shares during the period. Ameriprise Financial Inc. grew its position in Costco Wholesale Corporation by 62.0% during the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock worth $768,568,000 after buying an additional 1,753,741 shares during the period. Harbour Capital Advisors LLC grew its position in Costco Wholesale Corporation by 15,937.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock worth $9,058,000 after buying an additional 1,439,613 shares during the period. Capital World Investors grew its position in Costco Wholesale Corporation by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after buying an additional 1,007,720 shares during the period. Finally, Vanguard Group Inc. grew its position in Costco Wholesale Corporation by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after buying an additional 937,121 shares during the period. Institutional investors and hedge funds own 72.61% 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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