Costco Wholesale Corp. (NASDAQ:COST) announced its quarterly earnings data on Thursday. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.04. The business had revenue of $35.73 billion for the quarter, compared to the consensus estimate of $36.89 billion. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.83%.
Costco Wholesale Corp. (NASDAQ:COST) traded down 1.29% during mid-day trading on Thursday, reaching $147.49. The company had a trading volume of 4,183,772 shares. The firm’s 50-day moving average is $159.12 and its 200-day moving average is $156.37. Costco Wholesale Corp. has a one year low of $138.57 and a one year high of $169.73. The firm has a market capitalization of $64.61 billion, a P/E ratio of 27.88 and a beta of 0.59.
COST has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Costco Wholesale Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Robert W. Baird reiterated a “buy” rating on shares of Costco Wholesale Corp. in a research note on Thursday, June 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Costco Wholesale Corp. in a research note on Saturday, July 9th. Goldman Sachs Group Inc. upgraded shares of Costco Wholesale Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $175.00 in a research note on Wednesday, June 1st. Finally, Argus reiterated a “buy” rating and set a $175.00 price target on shares of Costco Wholesale Corp. in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Costco Wholesale Corp. presently has a consensus rating of “Buy” and an average price target of $172.52.
In other news, Director Jill S. Ruckelshaus sold 7,442 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $167.10, for a total transaction of $1,243,558.20. Following the sale, the director now directly owns 18,566 shares in the company, valued at $3,102,378.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Meisenbach sold 5,737 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now owns 4,652 shares in the company, valued at $780,326.48. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Montgomery Investment Management Inc. purchased a new stake in Costco Wholesale Corp. during the second quarter valued at $236,000. Mycio Wealth Partners LLC boosted its stake in Costco Wholesale Corp. by 34.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,513 shares of the retailer’s stock valued at $238,000 after buying an additional 385 shares during the period. Ingalls & Snyder LLC bought a new position in Costco Wholesale Corp. during the second quarter worth approximately $266,000. RiverPoint Capital Management LLC raised its position in Costco Wholesale Corp. by 3.8% in the second quarter. RiverPoint Capital Management LLC now owns 1,713 shares of the retailer’s stock worth $269,000 after buying an additional 63 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its position in Costco Wholesale Corp. by 1.7% in the second quarter. First Heartland Consultants Inc. now owns 2,114 shares of the retailer’s stock worth $332,000 after buying an additional 35 shares in the last quarter. Institutional investors own 73.02% of the company’s stock.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
Receive News & Ratings for Costco Wholesale Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corp. and related companies with MarketBeat.com's FREE daily email newsletter.