Costco Wholesale Co.’s May Same-Store Sales Numbers Beat Analysts’ Estimates, Shares Climb by 0% (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COSTGet Rating) same-store sales climbed 15.5% in the month of May. Costco Wholesale’s shares climbed by 0% in the first day of trading following the news.

A number of equities analysts have issued reports on COST shares. Credit Suisse Group cut their price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $595.00 target price on the stock in a research report on Monday, March 21st. Jefferies Financial Group reissued a “buy” rating and set a $580.00 target price (up previously from $560.00) on shares of Costco Wholesale in a research report on Thursday, June 2nd. Evercore ISI lifted their target price on shares of Costco Wholesale from $605.00 to $610.00 in a research report on Thursday, April 7th. Finally, Oppenheimer lifted their target price on shares of Costco Wholesale to $525.00 in a research report on Friday, June 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $570.54.

In related news, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total value of $2,265,160.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 500 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $602.03, for a total transaction of $301,015.00. Following the completion of the transaction, the executive vice president now owns 9,939 shares in the company, valued at $5,983,576.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,248 shares of company stock worth $5,417,137. Insiders own 0.22% of the company’s stock.

COST stock opened at $467.99 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $522.15 and its 200 day moving average is $528.36. The stock has a market cap of $207.30 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 3.95 and a beta of 0.71. Costco Wholesale has a 1-year low of $377.12 and a 1-year high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.01. The company had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. Costco Wholesale’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale will post 13.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.77%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date was Thursday, April 28th. Costco Wholesale’s dividend payout ratio is 28.35%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Trust grew its position in Costco Wholesale by 8.6% during the first quarter. American Trust now owns 13,781 shares of the retailer’s stock valued at $7,935,000 after acquiring an additional 1,094 shares during the last quarter. Peachtree Investment Partners LLC grew its position in Costco Wholesale by 32.5% during the first quarter. Peachtree Investment Partners LLC now owns 17,665 shares of the retailer’s stock valued at $10,173,000 after acquiring an additional 4,335 shares during the last quarter. Insight Advisors LLC PA grew its position in Costco Wholesale by 16.0% during the first quarter. Insight Advisors LLC PA now owns 1,968 shares of the retailer’s stock valued at $1,133,000 after acquiring an additional 271 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its position in Costco Wholesale by 139.6% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,493 shares of the retailer’s stock valued at $860,000 after acquiring an additional 870 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new position in Costco Wholesale during the first quarter valued at approximately $507,000. Institutional investors and hedge funds own 67.52% of the company’s stock.

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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