Costco Wholesale Co. Stock Climbs 0% Following Same Store Sales Report (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COST) same store sales increased by 5.3% in the month of November. Costco Wholesale’s shares climbed by 0% in the first day of trading following the news.

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $295.00 to $300.00 in a research report on Wednesday, September 11th. Gordon Haskett upgraded shares of Costco Wholesale from a “hold” rating to an “accumulate” rating and increased their price target for the company from $255.00 to $330.00 in a research report on Friday, September 20th. UBS Group increased their target price on Costco Wholesale from $280.00 to $335.00 and gave the company a “buy” rating in a report on Monday, September 9th. Bank of America lifted their price objective on Costco Wholesale from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein downgraded shares of Costco Wholesale from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $220.00 to $230.00 in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $295.04.

In related news, Director Susan L. Decker sold 1,703 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $303.01, for a total transaction of $516,026.03. Following the completion of the sale, the director now directly owns 38,432 shares in the company, valued at $11,645,280.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul G. Moulton sold 5,976 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the completion of the sale, the vice president now directly owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,780 shares of company stock valued at $11,032,292 in the last 90 days. Insiders own 0.21% of the company’s stock.

NASDAQ COST traded down $0.48 on Wednesday, reaching $295.30. The stock had a trading volume of 1,748,449 shares, compared to its average volume of 1,956,937. Costco Wholesale has a 1 year low of $189.51 and a 1 year high of $307.34. The business has a 50 day moving average price of $299.01 and a 200 day moving average price of $282.45. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $129.67 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 4.06 and a beta of 0.91.

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Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same quarter in the previous year, the business earned $2.36 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts anticipate that Costco Wholesale will post 8.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. Costco Wholesale’s dividend payout ratio (DPR) is currently 31.75%.

A number of hedge funds and other institutional investors have recently bought and sold shares of COST. Nuveen Asset Management LLC boosted its holdings in Costco Wholesale by 40,778.5% during the second quarter. Nuveen Asset Management LLC now owns 4,772,976 shares of the retailer’s stock valued at $1,261,307,000 after purchasing an additional 4,761,300 shares in the last quarter. Parnassus Investments CA acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $591,885,000. Nomura Holdings Inc. acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $159,976,000. Vanguard Group Inc. boosted its position in Costco Wholesale by 1.4% in the second quarter. Vanguard Group Inc. now owns 37,343,168 shares of the retailer’s stock valued at $9,868,305,000 after buying an additional 508,650 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Costco Wholesale by 343.7% during the third quarter. Squarepoint Ops LLC now owns 629,864 shares of the retailer’s stock worth $181,470,000 after buying an additional 487,907 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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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