Pegasus Partners Ltd. Purchases New Holdings in Costco (COST)

Pegasus Partners Ltd. purchased a new stake in Costco (NASDAQ:COST) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 9,857 shares of the retailer’s stock, valued at approximately $1,857,000.

A number of other large investors have also recently made changes to their positions in COST. Jennison Associates LLC raised its position in Costco by 86.3% in the 4th quarter. Jennison Associates LLC now owns 6,611,043 shares of the retailer’s stock worth $1,230,447,000 after purchasing an additional 3,062,864 shares during the period. Fisher Asset Management LLC raised its position in Costco by 2,114.9% in the 4th quarter. Fisher Asset Management LLC now owns 2,326,481 shares of the retailer’s stock worth $433,005,000 after purchasing an additional 2,221,445 shares during the period. Clearbridge Investments LLC raised its position in Costco by 252.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,388,496 shares of the retailer’s stock worth $444,547,000 after purchasing an additional 1,711,003 shares during the period. Renaissance Technologies LLC raised its position in Costco by 73.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,100,913 shares of the retailer’s stock worth $391,022,000 after purchasing an additional 890,200 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Costco in the 4th quarter worth $62,290,000. 71.49% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Paul G. Moulton sold 11,674 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $188.98, for a total transaction of $2,206,152.52. Following the transaction, the vice president now owns 33,573 shares in the company, valued at $6,344,625.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $191.31, for a total transaction of $573,930.00. Following the transaction, the director now owns 8,654 shares in the company, valued at approximately $1,655,596.74. The disclosure for this sale can be found here. Insiders have sold 62,067 shares of company stock worth $11,700,142 in the last quarter. 0.58% of the stock is owned by corporate insiders.

Shares of NASDAQ COST opened at $198.96 on Monday. Costco has a 1 year low of $150.00 and a 1 year high of $201.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00. The stock has a market cap of $87.31 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.81 and a beta of 0.95.

Costco (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.03). Costco had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Costco’s quarterly revenue was up 10.8% compared to the same quarter last year. equities analysts predict that Costco will post 6.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $2.28 annualized dividend and a dividend yield of 1.15%. This is a boost from Costco’s previous quarterly dividend of $0.50. Costco’s payout ratio is currently 39.18%.

A number of equities analysts recently commented on COST shares. BidaskClub upgraded shares of Costco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 28th. Vetr upgraded shares of Costco from a “hold” rating to a “buy” rating and set a $200.28 target price on the stock in a research report on Monday, February 5th. Wells Fargo upgraded shares of Costco from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $191.42 to $188.91 in a research report on Monday, April 16th. BMO Capital Markets set a $223.00 target price on shares of Costco and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $205.00 target price (down previously from $209.00) on shares of Costco in a research report on Thursday, March 8th. Eight analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $193.37.

Costco Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco (NASDAQ:COST)

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