Costco Wholesale Co. Stock Climbs 3.9% Following November Same Store Sales Report (NASDAQ:COST)
Costco Wholesale’s (NASDAQ:COST) same-store sales increased by 10.8% during the month of November. Costco Wholesale’s stock climbed by 3.9% in the first full-day of trading following the news.
A number of equities analysts have issued reports on COST shares. Moffett Nathanson started coverage on shares of Costco Wholesale in a research note on Monday. They issued a “buy” rating on the stock. < Vetr raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective on the stock in a research note on Monday, August 21st. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Thursday, August 24th. Morgan Stanley lowered shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $190.00 to $165.00 in a report on Friday, October 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $200.00 target price on shares of Costco Wholesale in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $179.50.
In related news, insider John D. Mckay sold 8,111 shares of Costco Wholesale stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.78, for a total transaction of $1,401,418.58. Following the completion of the sale, the insider now owns 66,751 shares of the company’s stock, valued at approximately $11,533,237.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $170.95, for a total transaction of $512,850.00. Following the sale, the chief financial officer now directly owns 35,225 shares of the company’s stock, valued at approximately $6,021,713.75. The disclosure for this sale can be found here. In the last three months, insiders sold 32,842 shares of company stock valued at $5,520,848. Insiders own 0.74% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.06. Costco Wholesale 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 previous year, the company earned $1.77 EPS. The business’s revenue was up 15.7% on a year-over-year basis. equities research analysts anticipate that Costco Wholesale will post 6.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s payout ratio is presently 32.89%.
Several large investors have recently modified their holdings of COST. Delta Asset Management LLC TN grew its position in Costco Wholesale by 11.6% during 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 during the period. Almanack Investment Partners LLC. bought a new position in Costco Wholesale during the second quarter worth about $101,000. Wealthcare Advisory Partners LLC bought a new position in Costco Wholesale during the third quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new position in shares of Costco Wholesale in the third quarter valued at approximately $103,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Costco Wholesale in the second quarter valued at approximately $107,000. Institutional investors own 71.49% of the company’s stock.
About Costco Wholesale
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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