Costco Wholesale Co. (NASDAQ:COST) insider James C. Klauer sold 5,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the completion of the sale, the insider now directly owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ COST opened at $257.11 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $259.61. The firm has a market cap of $113.07 billion, a P/E ratio of 37.64, a P/E/G ratio of 3.59 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same period last year, the company earned $1.70 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale announced that its Board of Directors has authorized a stock buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 1.01%. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Horan Capital Advisors LLC. acquired a new stake in Costco Wholesale in the first quarter valued at $26,000. Permanens Capital L.P. acquired a new stake in Costco Wholesale in the first quarter valued at $31,000. ERTS Wealth Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at $30,000. C J Advisory Inc acquired a new stake in Costco Wholesale in the first quarter valued at $36,000. Finally, JNBA Financial Advisors lifted its holdings in Costco Wholesale by 484.6% in the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after acquiring an additional 126 shares during the period. 71.14% of the stock is owned by hedge funds and other institutional investors.
COST has been the subject of several research analyst reports. Zacks Investment Research downgraded Costco Wholesale from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Wells Fargo & Co reissued a “hold” rating on shares of Costco Wholesale in a report on Friday, March 8th. JPMorgan Chase & Co. increased their price objective on Costco Wholesale to $248.00 and gave the company an “overweight” rating in a report on Friday, March 8th. Raymond James increased their price objective on Costco Wholesale from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Finally, Royal Bank of Canada increased their price objective on Costco Wholesale from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $252.13.
WARNING: This piece was reported by Enterprise Leader and is the sole property of of Enterprise Leader. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://theenterpriseleader.com/2019/06/12/james-c-klauer-sells-5000-shares-of-costco-wholesale-co-nasdaqcost-stock.html.
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.
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.