The stock of Costco Wholesale Corporation (NASDAQ:COST) is a huge mover today! About 7.32 million shares traded hands or 215.52% up from the average. Costco Wholesale Corporation (NASDAQ:COST) has declined 1.46% since February 26, 2016 and is downtrending. It has underperformed by 11.89% the S&P500.
The move comes after 5 months positive chart setup for the $65.95B company. It was reported on Oct, 1 by Barchart.com. We have $242.71 PT which if reached, will make NASDAQ:COST worth $38.91B more.
Analysts await Costco Wholesale Corporation (NASDAQ:COST) to report earnings on October, 4. They expect $1.73 earnings per share, 0.00% or $0.00 from last year’s $1.73 per share. COST’s profit will be $747.42 million for 22.06 P/E if the $1.73 EPS becomes a reality. After $1.24 actual earnings per share reported by Costco Wholesale Corporation for the previous quarter, Wall Street now forecasts 39.52% EPS growth.
Costco Wholesale Corporation (NASDAQ:COST) Ratings Coverage
Out of 20 analysts covering Costco Wholesale (NASDAQ:COST), 14 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 70% are positive. Costco Wholesale has been the topic of 39 analyst reports since August 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Costco Wholesale Corporation (NASDAQ:COST) rating on Friday, September 30. RBC Capital Markets has “Outperform” rating and $178 price target. The stock of Costco Wholesale Corporation (NASDAQ:COST) earned “Buy” rating by Stifel Nicolaus on Thursday, December 3. The stock of Costco Wholesale Corporation (NASDAQ:COST) earned “Buy” rating by Argus Research on Thursday, December 10. Barclays Capital maintained the stock with “Equal-Weight” rating in Thursday, March 31 report. On Friday, May 27 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was upgraded by Goldman Sachs on Wednesday, June 1 to “Buy”. As per Friday, February 5, the company rating was maintained by BMO Capital Markets. The firm earned “Buy” rating on Thursday, December 3 by Deutsche Bank. The rating was maintained by Citigroup with “Neutral” on Friday, May 27. The firm earned “Outperform” rating on Thursday, October 1 by Telsey Advisory Group.
According to Zacks Investment Research, “Costco Wholesale Corp. operates membership warehouses based on the concept that offering members very low prices on a limited selection of nationally branded and selected private label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover. This rapid inventory turnover enables Costco to operate profitably at significantly lower gross margins than traditional wholesalers, discount retailers and supermarkets.”
Insitutional Activity: The institutional sentiment increased to 1.01 in 2016 Q2. Its up 0.06, from 0.95 in 2016Q1. The ratio improved, as 75 funds sold all Costco Wholesale Corporation shares owned while 403 reduced positions. 73 funds bought stakes while 410 increased positions. They now own 314.43 million shares or 6.83% less from 337.47 million shares in 2016Q1.
Endurance Wealth holds 0.2% or 6,700 shares in its portfolio. Hirtle Callaghan Company Limited Liability Corporation owns 447 shares or 0.01% of their US portfolio. Marble Harbor Inv Counsel Ltd Llc holds 0.1% of its portfolio in Costco Wholesale Corporation (NASDAQ:COST) for 2,500 shares. Beech Hill Advsr, a New York-based fund reported 1,550 shares. Element Management Limited Co has invested 0.09% of its portfolio in Costco Wholesale Corporation (NASDAQ:COST). Cobiz Invest Mngmt Lc, a Colorado-based fund reported 40,291 shares. Capital Impact Advisors Limited Liability Company has 0.57% invested in the company for 7,808 shares. Jacobson & Schmitt Advisors Ltd Liability Co holds 28,954 shares or 3.86% of its portfolio. British Columbia Investment Mgmt, a British Columbia – Canada-based fund reported 213,454 shares. Capwealth Advsrs Ltd Liability Corporation last reported 0.72% of its portfolio in the stock. Bryn Mawr holds 4,225 shares or 0.04% of its portfolio. Invsts Capital Advisory Services has 0.12% invested in the company for 3,937 shares. Bb&T Corporation owns 26,915 shares or 0.09% of their US portfolio. Smith Chas P Associates Pa Cpas holds 0.05% or 1,720 shares in its portfolio. Harvey Limited Liability accumulated 1.72% or 50,371 shares.
Insider Transactions: Since March 31, 2016, the stock had 0 insider buys, and 6 selling transactions for $7.33 million net activity. 7,500 shares with value of $1.25 million were sold by McKay John D on Monday, July 11. MEISENBACH JOHN W sold 5,737 shares worth $962,347. Shares for $400,982 were sold by GALANTI RICHARD A. RUCKELSHAUS JILL S had sold 6,180 shares worth $1.03 million. The insider SCHUTT DOUGLAS W sold $2.44M.
More notable recent Costco Wholesale Corporation (NASDAQ:COST) news were published by: Finance.Yahoo.com which released: “Costco Wholesale Corporation Responds to Partial Verdict” on September 29, 2016, also Fool.com with their article: “Better Buy: Costco Wholesale Corporation vs. Amazon” published on September 15, 2016, Fool.com published: “How Risky Is Costco Wholesale Corporation?” on September 05, 2016. More interesting news about Costco Wholesale Corporation (NASDAQ:COST) were released by: Benzinga.com and their article: “Must Watch Stocks for September 30, 2016” published on September 30, 2016 as well as Fool.com‘s news article titled: “2 Reasons Costco Wholesale Corporation Stock Could Fall” with publication date: September 12, 2016.
COST Company Profile
Costco Wholesale Corporation (Costco), incorporated on May 12, 1987, 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. As of August 31, 2014, the Company operated 663 membership warehouses. The Companyâ€™s average warehouse is approximately 144,000 square feet. The Companyâ€™s warehouses generally operate on a seven-day, 69-hour week. The Companyâ€™s product categories include Food, Sundries, Hardlines, Fresh Food, Softlines, Ancillary and Other.
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