Costco Wholesale Co. (COST) Short Interest Update

Costco Wholesale Co. (NASDAQ:COST) was the target of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 9,733,639 shares, a decline of 17.3% from the December 15th total of 11,765,977 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 2,186,073 shares, the days-to-cover ratio is presently 4.5 days.

In related news, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.20, for a total transaction of $966,000.00. Following the transaction, the vice president now directly owns 52,529 shares of the company’s stock, valued at approximately $10,148,602.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard M. Libenson sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $193.03, for a total value of $3,860,600.00. Following the transaction, the director now directly owns 3,919 shares in the company, valued at $756,484.57. The disclosure for this sale can be found here. Insiders have sold a total of 87,027 shares of company stock worth $15,872,935 over the last three months. 0.58% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cadinha & Co. LLC increased its stake in shares of Costco Wholesale by 7.3% in the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock valued at $19,934,000 after buying an additional 8,518 shares during the period. Intersect Capital LLC increased its stake in shares of Costco Wholesale by 143.4% in the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock valued at $861,000 after buying an additional 3,171 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $1,985,000. State of Wisconsin Investment Board increased its stake in shares of Costco Wholesale by 3.2% in the third quarter. State of Wisconsin Investment Board now owns 511,728 shares of the retailer’s stock valued at $84,072,000 after buying an additional 16,066 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $362,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Shares of Costco Wholesale (COST) opened at $192.29 on Thursday. Costco Wholesale has a 1 year low of $150.00 and a 1 year high of $195.35. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $84,450.00, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.18 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The business had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. analysts predict that Costco Wholesale will post 6.61 earnings per share for the current year.

A number of research analysts have commented on the company. Citigroup upped their price objective on Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a report on Friday, October 6th. Morgan Stanley lowered Costco Wholesale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $190.00 to $165.00 in a report on Friday, October 6th. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, October 20th. Wells Fargo & Co set a $170.00 price objective on Costco Wholesale and gave the company a “hold” rating in a report on Thursday, October 5th. Finally, BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $192.73 to $215.00 in a report on Monday, December 18th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $188.90.

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About Costco Wholesale

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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