Costco Wholesale Co. Same Store Sales Grow 10% in September (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COST) same store sales increased by 10% during the month of September. Costco Wholesale’s stock climbed by 0% in the first full-day of trading following the news.

Analyst Ratings Changes

Several brokerages have recently weighed in on COST. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Oppenheimer upped their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. DA Davidson restated a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $890.07.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the sale, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,224 shares of company stock worth $9,974,973 in the last quarter. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Up 0.5 %

Costco Wholesale stock opened at $889.56 on Monday. Costco Wholesale has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The firm has a market capitalization of $394.37 billion, a PE ratio of 55.12, a P/E/G ratio of 5.48 and a beta of 0.80. The company’s 50-day moving average is $889.26 and its 200-day moving average is $833.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the firm posted $4.86 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Costco Wholesale will post 17.74 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently made changes to their positions in the stock. Fermata Advisors LLC boosted its holdings in Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after acquiring an additional 11 shares in the last quarter. Oak Asset Management LLC increased its stake in Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC raised its holdings in Costco Wholesale by 0.7% during the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after buying an additional 12 shares during the last quarter. Perkins Coie Trust Co lifted its stake in shares of Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after buying an additional 12 shares in the last quarter. Finally, Horizon Wealth Management LLC increased its position in shares of Costco Wholesale by 4.7% during the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock worth $237,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

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