Is Costco Wholesale Corporation’s Fuel For Real? The Stock Was Bought By Option Traders

 Is Costco Wholesale Corporation's Fuel For Real? The Stock Was Bought By Option Traders

In today’s session Costco Wholesale Corporation (COST) registered an unusually high (1,310) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious COST increase. With 1,310 contracts traded and 1234 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: COST161118C00165000 closed last at: $0.43 or 30.3% up. The stock decreased 0.35% or $0.53 during the last trading session, hitting $150.48. About 2.84M shares traded hands or 10.94% up from the average. Costco Wholesale Corporation (NASDAQ:COST) has declined 1.51% since March 2, 2016 and is downtrending. It has underperformed by 10.75% the S&P500.

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. The company was maintained on Friday, September 30 by RBC Capital Markets. The firm has “Hold” rating by Williams Capital Group given on Friday, October 23. The firm has “Hold” rating by Deutsche Bank given on Wednesday, September 30. The stock of Costco Wholesale Corporation (NASDAQ:COST) has “Buy” rating given on Wednesday, September 2 by Piper Jaffray. The stock has “Neutral” rating given by Cleveland on Friday, February 26. The firm earned “Buy” rating on Thursday, December 3 by Deutsche Bank. The rating was maintained by Barclays Capital on Thursday, March 31 with “Equal-Weight”. The stock of Costco Wholesale Corporation (NASDAQ:COST) has “Neutral” rating given on Tuesday, August 16 by Citigroup. Piper Jaffray maintained the shares of COST in a report on Wednesday, December 9 with “Overweight” rating. The firm has “Outperform” rating by Telsey Advisory Group given on Thursday, October 1.

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.
Destination Wealth Mgmt last reported 1.5% of its portfolio in the stock. Parallax Volatility Advisers L P last reported 0.02% of its portfolio in the stock. American Retail Bank last reported 125 shares in the company. California State Teachers Retirement Sys, a California-based fund reported 924,233 shares. Manufacturers Life Insur The has 0.16% invested in the company for 660,481 shares. The North Dakota-based Centers Of America has invested 0.11% in Costco Wholesale Corporation (NASDAQ:COST). Contravisory Investment Mgmt has 44,129 shares for 2.13% of their US portfolio. Voloridge Management Ltd Limited Liability Company last reported 1.57% of its portfolio in the stock. Hartford Investment Management has invested 0.35% of its portfolio in Costco Wholesale Corporation (NASDAQ:COST). Whittier Tru, a California-based fund reported 22,084 shares. Ckw Financial has invested 0.03% of its portfolio in Costco Wholesale Corporation (NASDAQ:COST). Principal Gp reported 618,192 shares or 0.14% of all its holdings. Amg Tru Comml Bank owns 4,122 shares or 0.06% of their US portfolio. Moreover, Nelson Roberts Invest Advsrs Ltd Limited Liability Company has 3.34% invested in Costco Wholesale Corporation (NASDAQ:COST) for 56,611 shares. X Management Limited Co, a New York-based fund reported 983 shares.

Insider Transactions: Since July 11, 2016, the stock had 0 insider purchases, and 6 insider sales for $7.33 million net activity. $1.24 million worth of Costco Wholesale Corporation (NASDAQ:COST) was sold by RUCKELSHAUS JILL S on Tuesday, July 26. Another trade for 7,500 shares valued at $1.25M was made by McKay John D on Monday, July 11. On Monday, July 11 SCHUTT DOUGLAS W sold $2.44M worth of the stock or 14,656 shares. MEISENBACH JOHN W sold 5,737 shares worth $962,347. Another trade for 2,400 shares valued at $400,982 was made by GALANTI RICHARD A on Monday, July 11.

Costco Wholesale Corporation 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. The company has a market cap of $65.27 billion. The Firm operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet. It has a 28.26 P/E ratio. The Company’s warehouses generally operate on a seven-day, 69-hour week.

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