Costco to Raise Membership Fees, Higher Costs Take Toll on Profit
04 March, 2017, 00:37 | Author: Paula Vaughn
The shares were sold at an average price of $161.98, for a total transaction of $2,298,334.22.
Wholesale retail chain Costco - which operates warehouse stores in East Harlem; Sunset Park, Brooklyn; and Long Island City and Rego Park, Queens - is raising its membership prices this summer, according to a company quarterly report.
Revenues rose 5.7% from previous year to $29.77 billion, topping analysts' view for $29.75 billion.
The Issaquah, WA-based membership warehouse operator reported Q2 EPS of $1.17, which was $0.18 worse than the Wall Street consensus estimate of $1.35. The increased prices will go into effect June 1, 2017, the wholesale retailer announced on Thursday.
Costco has tended to raise fees about every five or six years.
There are 16 brokerages that have approved securities rating on Costco Wholesale Corporation (NASDAQ:COST) within the past year. They collectively paid more than $2.6 billion USA for the right to shop at the stores - more than the company made in profits a year ago. Now the stock price is moving -0.41% off from the highest level of twelve months and +29.53% above from twelve months low.
Costco Wholesale Corp.'s second quarter profit took a hit amid higher costs. The stock now has a consensus rating of "Buy" and a consensus target price of $176.33. BMO Capital Markets' target price indicates a potential upside of 1.13% from the company's current price. Klingman & Associates LLC increased its stake in shares of Costco Wholesale Corporation by 25.8% in the third quarter. Shares of Costco Wholesale Corporation (NASDAQ:COST) now have an ABR of 1.61, derived from a total of 19 opinions. Over the last quarter, insiders have sold 47,292 shares of company stock valued at $7,631,776. Canada remained the strong part of the system, posting an 8% rise in comps, but other worldwide locations had to deal with a 2% drop that pulled down the company on the whole. Its weekly and monthly volatility is 1.08%, 1.09% respectively. Companys change in pay out ratio when compared to the last 5 years average pay out ratio has been 0.04.
Turning to market valuation, the P/E ratio is 32.46, the P/S ratio is 0.65 and the P/B ratio is finally 6.51. Barclays PLC set a $158.00 target price on shares of Costco Wholesale Corporation and gave the stock a "hold" rating in a report on Monday.
Three Month Ago Analyst Ratings: COSTCO WHOLESALE CORPORATION (COST) has received mean Analyst rating of 2.03 from polled analysts at Reuters 3 Month Ago. Presently, it has a Return on Equity (ROE) of 20.70% and Return on Investment (ROI) of 13.80%.
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