Costco Wholesale Co. Shares Rise 0% Following Same-Store Sales Report (NASDAQ:COST)

Posted by Defense World Staff on Aug 6th, 2023

Costco Wholesale’s (NASDAQ:COST – Free Report) same-store sales rose 10% during the month of July. Costco Wholesale’s shares climbed by 0% in the first full-day of trading following the news.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Costco Wholesale from $535.00 to $550.00 in a report on Friday, July 7th. Telsey Advisory Group restated an “outperform” rating and issued a $575.00 target price on shares of Costco Wholesale in a report on Monday, July 31st. Truist Financial boosted their price target on Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a report on Thursday. VNET Group reiterated a “reiterates” rating on shares of Costco Wholesale in a report on Thursday, June 29th. Finally, William Blair began coverage on Costco Wholesale in a report on Wednesday, April 12th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $562.67.

Insider Activity

In other news, Director Susan L. Decker sold 1,565 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the completion of the transaction, the director now directly owns 13,329 shares in the company, valued at $7,104,357. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard A. Galanti sold 1,500 shares of Costco Wholesale stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $522.02, for a total value of $783,030.00. Following the completion of the sale, the chief financial officer now owns 23,850 shares in the company, valued at $12,450,177. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 1,565 shares of Costco Wholesale stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total transaction of $834,145.00. Following the completion of the sale, the director now owns 13,329 shares of the company’s stock, valued at approximately $7,104,357. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Costco Wholesale Stock Down 1.0 %

Shares of NASDAQ:COST opened at $552.04 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $535.32 and a 200 day simple moving average of $509.10. The firm has a market cap of $244.61 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 4.67 and a beta of 0.79. Costco Wholesale has a 12-month low of $447.90 and a 12-month high of $571.16.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its quarterly earnings results on Thursday, May 25th. The retailer reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.11. The business had revenue of $53.65 billion during the quarter, compared to the consensus estimate of $54.58 billion. Costco Wholesale had a return on equity of 28.18% and a net margin of 2.55%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $3.17 earnings per share. On average, equities research analysts anticipate that Costco Wholesale will post 14.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Costco Wholesale

Several large investors have recently added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. bought a new position in Costco Wholesale during the 4th quarter worth $26,000. Destiny Wealth Partners LLC grew its stake in Costco Wholesale by 132.1% during the 4th quarter. Destiny Wealth Partners LLC now owns 65 shares of the retailer’s stock worth $30,000 after buying an additional 37 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Costco Wholesale during the 2nd quarter worth $37,000. Horizon Bancorp Inc. IN acquired a new position in Costco Wholesale during the 2nd quarter valued at about $38,000. Finally, Agur Provident & Training Funds Management Ltd. acquired a new position in Costco Wholesale during the 1st quarter valued at about $42,000. 76.88% of the stock is currently owned by institutional investors.

About Costco Wholesale

(Get Free Report)

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.