Costco Wholesale Co. (NASDAQ:COST) VP Richard A. Galanti sold 4,163 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total value of $945,958.49. Following the completion of the sale, the vice president now directly owns 32,270 shares of the company’s stock, valued at $7,332,712.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Costco Wholesale stock opened at $230.16 on Friday. Costco Wholesale Co. has a twelve month low of $163.78 and a twelve month high of $245.16. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a market cap of $100.86 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.94 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. The business had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. As a group, research analysts forecast that Costco Wholesale Co. will post 7.7 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Parkside Investments LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $105,000. MUFG Securities EMEA plc purchased a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $103,000. Capital Advisors Ltd. LLC raised its stake in shares of Costco Wholesale by 180.0% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock worth $132,000 after buying an additional 360 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $119,000. Finally, Legacy Advisors LLC raised its stake in shares of Costco Wholesale by 632.9% during the 3rd quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock worth $136,000 after buying an additional 500 shares in the last quarter. 71.49% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on COST. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 23rd. Wells Fargo & Co upped their target price on Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, July 12th. Cowen reissued a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a research report on Friday, August 10th. Telsey Advisory Group increased their price objective on Costco Wholesale from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. Finally, Loop Capital increased their price objective on Costco Wholesale to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $237.94.
About Costco Wholesale
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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