Costco Wholesale Co. Shares Fall 1.8% Following March Same-Store Sales Report (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COST) same-store sales climbed 5.7% in the month of March. Costco Wholesale’s shares fell by 1.8% in the first full-day of trading following the news.

COST has been the topic of several research reports. Argus reissued a “buy” rating and set a $245.00 price target (down from $255.00) on shares of Costco Wholesale in a research note on Monday, December 24th. They noted that the move was a valuation call. Bank of America set a $255.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Friday, March 8th. BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 25th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price target on the stock in a research note on Monday, March 11th. Finally, UBS Group lifted their price target on shares of Costco Wholesale to $280.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Seven 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 stock. The stock presently has an average rating of “Buy” and a consensus target price of $246.57.

In related news, VP Richard A. Galanti sold 4,188 shares of Costco Wholesale stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the transaction, the vice president now directly owns 30,082 shares of the company’s stock, valued at $6,932,998.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 2,049 shares of Costco Wholesale stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the sale, the director now owns 48,589 shares in the company, valued at approximately $11,272,648. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,587 shares of company stock worth $2,004,576. 0.21% of the stock is owned by insiders.

NASDAQ:COST traded up $4.38 during trading hours on Monday, hitting $246.33. The company had a trading volume of 1,660,826 shares, compared to its average volume of 2,128,326. The stock has a market cap of $106.43 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 3.43 and a beta of 0.95. Costco Wholesale has a 52 week low of $189.51 and a 52 week high of $247.09. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.34. The business had revenue of $35.40 billion for the quarter. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. During the same quarter last year, the firm earned $1.59 EPS. On average, analysts expect that Costco Wholesale will post 7.9 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Country Club Trust Company n.a. boosted its holdings in shares of Costco Wholesale by 8.0% during the 4th quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock valued at $1,336,000 after buying an additional 484 shares in the last quarter. Bernicke Wealth Management Ltd. boosted its holdings in shares of Costco Wholesale by 3.3% during the 4th quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after buying an additional 127 shares in the last quarter. Ruggie Capital Group bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $61,000. Ipswich Investment Management Co. Inc. boosted its holdings in shares of Costco Wholesale by 80.1% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock valued at $3,133,000 after buying an additional 6,839 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its holdings in shares of Costco Wholesale by 2.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock valued at $1,585,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.

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Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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