Costco Wholesale Corporation’s Same-Store Sales Numbers Beat Analysts’ Estimates, Stock Climbs by 0.4% (NASDAQ:COST)

Costco Wholesale Corporation’s (NASDAQ:COST) same store sales increased by 6.2% during the month of July. Costco Wholesale Corporation’s shares rose by 0.4% in the first full-day of trading following the report.

A number of equities research analysts have weighed in on COST shares. Gordon Haskett started coverage on shares of Costco Wholesale Corporation in a research note on Tuesday, May 9th. They set an “accumulate” rating and a $191.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $187.00 price target on shares of Costco Wholesale Corporation in a research note on Wednesday, April 26th. Stifel Nicolaus reissued a “buy” rating and set a $185.00 price objective on shares of Costco Wholesale Corporation in a report on Thursday, May 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Costco Wholesale Corporation in a report on Thursday, April 27th. Finally, Royal Bank Of Canada lifted their price objective on Costco Wholesale Corporation from $182.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $179.11.

In other Costco Wholesale Corporation news, VP James P. Murphy sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $181.30, for a total value of $906,500.00. Following the transaction, the vice president now directly owns 48,845 shares of the company’s stock, valued at approximately $8,855,598.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $160.28, for a total value of $160,280.00. Following the completion of the transaction, the director now directly owns 5,974 shares in the company, valued at $957,512.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,000 shares of company stock worth $2,677,430. 0.74% of the stock is owned by company insiders.

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Costco Wholesale Corporation (NASDAQ COST) traded up 0.01% during mid-day trading on Friday, hitting $156.65. The stock had a trading volume of 1,886,996 shares. The stock has a market capitalization of $68.71 billion, a P/E ratio of 27.20 and a beta of 0.93. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The company’s 50 day moving average is $155.46 and its 200-day moving average is $167.57.

Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $28.86 billion for the quarter, compared to the consensus estimate of $28.57 billion. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. On average, analysts expect that Costco Wholesale Corporation will post $5.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. This is an increase from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio is presently 34.66%.

Several hedge funds have recently bought and sold shares of COST. Ameriprise Financial Inc. increased its stake in Costco Wholesale Corporation by 62.0% in the first quarter. Ameriprise Financial Inc. now owns 4,583,281 shares of the retailer’s stock valued at $768,568,000 after buying an additional 1,753,741 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Costco Wholesale Corporation by 15,937.3% in the second quarter. Harbour Capital Advisors LLC now owns 1,448,646 shares of the retailer’s stock valued at $9,058,000 after buying an additional 1,439,613 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Costco Wholesale Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock valued at $5,380,168,000 after buying an additional 937,121 shares in the last quarter. BlackRock Inc. increased its stake in shares of Costco Wholesale Corporation by 2.9% in the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after buying an additional 703,825 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its stake in shares of Costco Wholesale Corporation by 13.9% in the first quarter. Magellan Asset Management Ltd now owns 4,362,576 shares of the retailer’s stock valued at $732,000,000 after buying an additional 532,896 shares in the last quarter. Institutional investors own 74.14% of the company’s stock.

About Costco Wholesale Corporation

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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