Costco Wholesale Co. (NASDAQ:COST) Sees Large Increase in Short Interest

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 6,600,000 shares, a growth of 7.5% from the April 30th total of 6,140,000 shares. Based on an average trading volume of 1,950,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

Several equities analysts have issued reports on COST shares. Telsey Advisory Group lifted their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “outperform” rating in a report on Friday. Barclays boosted their price objective on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a report on Friday. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective on the stock. in a report on Wednesday, April 3rd. Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a report on Friday. Finally, StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $743.52.

View Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Price Performance

Costco Wholesale stock opened at $809.89 on Monday. The firm has a market cap of $359.19 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 5.39 and a beta of 0.77. Costco Wholesale has a 52-week low of $501.59 and a 52-week high of $819.50. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $750.13 and its two-hundred day moving average is $705.36.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. During the same period last year, the business earned $3.43 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that Costco Wholesale will post 15.88 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a dividend of $1.16 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 30.35%.

Insider Activity

In other news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Motiv8 Investments LLC raised its stake in Costco Wholesale by 17.5% during the 1st quarter. Motiv8 Investments LLC now owns 981 shares of the retailer’s stock worth $719,000 after acquiring an additional 146 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Costco Wholesale during the 1st quarter worth $329,000. Alexander Labrunerie & CO. Inc. purchased a new position in Costco Wholesale during the 1st quarter worth $231,000. Garde Capital Inc. grew its position in Costco Wholesale by 5.1% during the 1st quarter. Garde Capital Inc. now owns 4,208 shares of the retailer’s stock worth $3,082,000 after purchasing an additional 205 shares during the last quarter. Finally, Cetera Advisor Networks LLC grew its position in Costco Wholesale by 6.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 76,502 shares of the retailer’s stock worth $56,047,000 after purchasing an additional 4,941 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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, 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.

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