John W. Meisenbach Sells 1,000 Shares of Costco Wholesale Corporation (COST) Stock
Costco Wholesale Corporation (NASDAQ:COST) Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $161.97, for a total value of $161,970.00. Following the completion of the sale, the director now owns 8,654 shares of the company’s stock, valued at $1,401,688.38. The sale was disclosed in a filing with the SEC, which is available at this link.
Costco Wholesale Corporation (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.06. The firm had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 payout ratio is 32.89%.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 937,121 shares in the last quarter. BlackRock Inc. lifted its position in shares of Costco Wholesale Corporation by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after purchasing an additional 703,825 shares in the last quarter. State Street Corp lifted its position in shares of Costco Wholesale Corporation by 1.3% during the first quarter. State Street Corp now owns 18,131,561 shares of the retailer’s stock worth $3,040,476,000 after purchasing an additional 239,479 shares in the last quarter. Capital World Investors lifted its position in shares of 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 purchasing an additional 1,007,720 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Costco Wholesale Corporation by 1.5% during the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after purchasing an additional 177,200 shares in the last quarter. Institutional investors own 72.61% of the company’s stock.
COST has been the subject of several recent research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $172.00 price target on shares of Costco Wholesale Corporation in a report on Tuesday, September 5th. Citigroup Inc. raised their target price on Costco Wholesale Corporation from $155.00 to $187.00 and gave the company a “hold” rating in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $185.00 target price on shares of Costco Wholesale Corporation in a research note on Thursday, August 31st. Morgan Stanley downgraded Costco Wholesale Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Costco Wholesale Corporation in a research note on Friday, July 7th. Eleven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus 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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