Costco Wholesale Co.’s Same Store Sales Numbers Beat Analysts’ Estimates (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COSTGet Rating) same-store sales rose 15.5% during the month of May. Costco Wholesale’s stock rose by 0% in the first full-day of trading following the report.

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Truist Financial boosted their target price on shares of Costco Wholesale from $503.00 to $543.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Jefferies Financial Group restated a “buy” rating and issued a $580.00 target price (up from $560.00) on shares of Costco Wholesale in a report on Thursday, June 2nd. Raymond James reduced their target price on shares of Costco Wholesale from $645.00 to $560.00 in a report on Tuesday, May 31st. Finally, The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the company a “buy” rating in a report on Thursday, April 7th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.56.

In other news, EVP Claudine Adamo sold 500 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the completion of the sale, the executive vice president now owns 9,939 shares of the company’s stock, valued at approximately $5,983,576.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Agnes Wilderotter purchased 850 shares of the stock in a transaction dated Tuesday, June 7th. The stock was acquired at an average cost of $470.74 per share, with a total value of $400,129.00. Following the transaction, the director now directly owns 11,295 shares in the company, valued at approximately $5,317,008.30. The disclosure for this purchase can be found here. Insiders sold a total of 11,498 shares of company stock valued at $6,438,469 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Shares of COST opened at $475.00 on Friday. Costco Wholesale has a fifty-two week low of $391.25 and a fifty-two week high of $612.27. The company has a 50 day moving average price of $494.20 and a 200-day moving average price of $522.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The stock has a market capitalization of $210.41 billion, a PE ratio of 37.40, a PEG ratio of 3.87 and a beta of 0.71.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its earnings results on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The company had revenue of $52.60 billion during the quarter, compared to analysts’ expectations of $51.49 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. Costco Wholesale’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities research analysts forecast that Costco Wholesale will post 13.02 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a dividend of $0.90 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date was Thursday, April 28th. This represents a $3.60 dividend on an annualized basis and a yield of 0.76%. Costco Wholesale’s dividend payout ratio is presently 28.35%.

A number of large investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Costco Wholesale by 7.9% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,117 shares of the retailer’s stock valued at $2,370,000 after acquiring an additional 300 shares during the last quarter. Mathes Company Inc. raised its holdings in shares of Costco Wholesale by 44.7% in the first quarter. Mathes Company Inc. now owns 2,265 shares of the retailer’s stock worth $1,304,000 after buying an additional 700 shares during the last quarter. Offit Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 2.4% in the first quarter. Offit Capital Advisors LLC now owns 3,903 shares of the retailer’s stock worth $2,248,000 after buying an additional 92 shares during the last quarter. American Trust raised its holdings in shares of Costco Wholesale by 8.6% in the first quarter. American Trust now owns 13,781 shares of the retailer’s stock worth $7,935,000 after buying an additional 1,094 shares during the last quarter. Finally, Peachtree Investment Partners LLC raised its holdings in shares of Costco Wholesale by 32.5% in the first quarter. Peachtree Investment Partners LLC now owns 17,665 shares of the retailer’s stock worth $10,173,000 after buying an additional 4,335 shares during the last quarter. 67.52% of the stock is owned by institutional investors.

About Costco Wholesale (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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