Costco Wholesale Co. (NASDAQ:COST) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 8,094,449 shares, a decline of 22.7% from the January 12th total of 10,470,107 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,524,291 shares, the days-to-cover ratio is presently 3.2 days.
In other Costco Wholesale news, VP Timothy L. Rose sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.20, for a total value of $966,000.00. Following the transaction, the vice president now directly owns 52,529 shares of the company’s stock, valued at approximately $10,148,602.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $193.41, for a total value of $580,230.00. Following the completion of the transaction, the director now directly owns 8,654 shares in the company, valued at $1,673,770.14. The disclosure for this sale can be found here. Insiders sold a total of 99,296 shares of company stock valued at $18,810,236 in the last 90 days. 0.74% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in COST. Intersect Capital LLC lifted its holdings in shares of Costco Wholesale by 143.4% during the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock valued at $861,000 after purchasing an additional 3,171 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Costco Wholesale during the second quarter valued at $1,985,000. State of Wisconsin Investment Board lifted its holdings in shares of Costco Wholesale by 3.2% during the third quarter. State of Wisconsin Investment Board now owns 511,728 shares of the retailer’s stock valued at $84,072,000 after purchasing an additional 16,066 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Costco Wholesale during the second quarter valued at $362,000. Finally, AXA lifted its holdings in shares of Costco Wholesale by 1.9% during the third quarter. AXA now owns 704,782 shares of the retailer’s stock valued at $115,788,000 after purchasing an additional 13,404 shares in the last quarter. 72.27% of the stock is currently owned by institutional investors and hedge funds.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion for the quarter, compared to the consensus estimate of $31.01 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts predict that Costco Wholesale will post 6.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is 31.80%.
Several equities analysts have recently issued reports on the company. Vetr raised Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $200.28 target price on the stock in a research note on Monday. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $191.00 target price on the stock in a research note on Friday, January 12th. Robert W. Baird reissued a “buy” rating and set a $215.00 target price on shares of Costco Wholesale in a research note on Friday, December 15th. Finally, Moffett Nathanson assumed coverage on Costco Wholesale in a research note on Monday, December 4th. They set a “buy” rating on the stock. < Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of "Buy" and a consensus price target of $189.97.
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Costco Wholesale 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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