Smith Salley & Associates lowered its stake in Costco (NASDAQ:COST) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,498 shares of the retailer’s stock after selling 346 shares during the quarter. Smith Salley & Associates’ holdings in Costco were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Costco in the 3rd quarter valued at about $102,000. Assetmark Inc. raised its holdings in shares of Costco by 137.0% in the 4th quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock valued at $105,000 after acquiring an additional 326 shares in the last quarter. Zions Bancorporation raised its holdings in shares of Costco by 148.4% in the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after acquiring an additional 411 shares in the last quarter. Smart Portfolios LLC purchased a new stake in shares of Costco in the 1st quarter valued at about $113,000. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Costco in the 4th quarter valued at about $120,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
Several research firms have weighed in on COST. Loop Capital began coverage on Costco in a report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 price target on the stock. BidaskClub cut Costco from a “strong-buy” rating to a “buy” rating in a report on Friday, March 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $205.00 price target (down previously from $209.00) on shares of Costco in a report on Thursday, March 8th. Vetr raised Costco from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a report on Monday, February 5th. Finally, Argus raised their price target on Costco to $200.00 and gave the company a “buy” rating in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $193.37.
In other news, Director John W. Meisenbach sold 3,000 shares of Costco stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $191.31, for a total value of $573,930.00. Following the sale, the director now directly owns 8,654 shares in the company, valued at approximately $1,655,596.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Timothy L. Rose sold 17,000 shares of Costco stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $185.33, for a total value of $3,150,610.00. Following the completion of the sale, the vice president now owns 34,903 shares in the company, valued at $6,468,572.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,067 shares of company stock worth $11,700,142. Corporate insiders own 0.58% of the company’s stock.
Shares of Costco stock opened at $199.62 on Tuesday. 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 company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 2.81 and a beta of 0.95. Costco has a one year low of $150.00 and a one year high of $201.35.
Costco (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.03). The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Costco had a return on equity of 24.74% and a net margin of 2.18%. Costco’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $1.17 earnings per share. equities analysts expect that Costco will post 6.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be given a $0.57 dividend. This is a positive change from Costco’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, May 10th. Costco’s dividend payout ratio (DPR) is currently 39.18%.
Costco Company 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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