Costco Wholesale Corporation’s recent filing unveils that its Director DECKER SUSAN L unloaded Company’s shares for reported $0.83 million on Jun 28. In the deal valued at $533.00 per share,1,565 shares were sold. As a result of this transaction, DECKER SUSAN L now holds 13,329 shares worth roughly $ 7.26 million.
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Then, GALANTI RICHARD A sold 1,500 shares, generating $783,038 in total proceeds. Upon selling the shares at $522.02, the Executive VP and CFO now owns 23,850 shares.
Before that, DECKER SUSAN L sold 3,971 shares. Costco Wholesale Corporation shares valued at $2,041,659 were divested by the Director at a price of $514.14 per share. As a result of the transaction, DECKER SUSAN L now holds 14,894 shares, worth roughly $8.11 million.
William Blair initiated its Costco Wholesale Corporation [COST] rating to an Outperform in a research note published on Tuesday.
Price Performance Review of COST
On Tuesday, Costco Wholesale Corporation [NASDAQ:COST] saw its stock jump 0.09% to $544.73. On the same session, the stock had its day’s lowest price of $544.00, but rose to a high of $549.19. Over the last five days, the stock has gained 1.59%. Costco Wholesale Corporation shares have risen nearly 19.33% since the year began. Nevertheless, the stocks have risen 2.94% over the past one year. While a 52-week high of $571.16 was reached on 07/27/23, a 52-week low of $447.90 was recorded on 01/03/23. SMA at 50 days reached $547.45, while 200 days put it at $508.55. A total of 1.71 million shares were traded, compared to the trading of 1.44 million shares in the previous session.
Levels Of Support And Resistance For COST Stock
The 24-hour chart illustrates a support level at 542.76, which if violated will result in even more drops to 540.78. On the upside, there is a resistance level at 547.95. A further resistance level may holdings at 551.16. The Relative Strength Index (RSI) on the 14-day chart is 48.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.32, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 58.80%. Stochastics %K at 40.11% indicates the stock is a holding.
How much short interest is there in Costco Wholesale Corporation?
A steep rise in short interest was recorded in Costco Wholesale Corporation stocks on Aug 14, 2023, dropping by -0.24 million shares to a total of 4.04 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.28 million shares. There was a decline of -5.94%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.91% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.55.
According to FactSet, Costco Wholesale Corporation’s share price will average $569.53 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.65 percent from its previous closing price of $544.25. Analysts expect Costco Wholesale Corporation stock to reach the higher price of $651.00, while the lowest price estimate is $478.00. However, 37 analysts have rated COST stock as an Overweight in their predictions for 2023.