Costco Wholesale Co. Same Store Sales Rise 17.2% in March (NASDAQ:COST)

Costco Wholesale’s (NASDAQ:COSTGet Rating) same store sales climbed 17.2% in the month of March. Costco Wholesale’s shares climbed by 0% in the first full-day of trading following the report.

COST has been the topic of several analyst reports. Citigroup upped their price target on shares of Costco Wholesale from $550.00 to $555.00 in a research report on Thursday, January 6th. StockNews.com initiated coverage on shares of Costco Wholesale in a research report on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Cowen upped their price target on shares of Costco Wholesale from $520.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Costco Wholesale from $491.00 to $527.00 in a report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $576.43.

In related news, VP Roland Michael Vachris sold 3,318 shares of the company’s stock in a transaction dated Thursday, January 27th. The shares were sold at an average price of $492.45, for a total transaction of $1,633,949.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel M. Hines sold 4,498 shares of the company’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the sale, the insider now directly owns 13,108 shares of the company’s stock, valued at approximately $7,904,124. The disclosure for this sale can be found here. Insiders sold 12,566 shares of company stock worth $7,051,086 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

COST stock opened at $591.74 on Friday. The stock has a market capitalization of $262.27 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 4.99 and a beta of 0.68. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.33. Costco Wholesale has a 12 month low of $365.29 and a 12 month high of $612.27. The firm has a 50-day moving average price of $550.96 and a 200-day moving average price of $527.28.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its earnings results on Thursday, March 3rd. The retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.18. The firm had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, equities analysts predict that Costco Wholesale will post 13.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s dividend payout ratio is 25.46%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after acquiring an additional 944,199 shares during the last quarter. State Street Corp raised its holdings in Costco Wholesale by 10.2% in the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after buying an additional 1,697,920 shares during the last quarter. Geode Capital Management LLC raised its holdings in Costco Wholesale by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after buying an additional 246,857 shares during the last quarter. Morgan Stanley raised its holdings in Costco Wholesale by 1.5% in the 2nd quarter. Morgan Stanley now owns 6,185,105 shares of the retailer’s stock valued at $2,447,261,000 after buying an additional 91,694 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Costco Wholesale by 2.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after buying an additional 133,943 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile (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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