Strategy Asset Managers LLC acquired a new position in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 921 shares of the retailer’s stock, valued at approximately $216,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Costco Wholesale by 18.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,817 shares of the retailer’s stock worth $1,634,000 after purchasing an additional 1,200 shares during the last quarter. Cobiz Wealth LLC grew its stake in shares of Costco Wholesale by 1.0% in the second quarter. Cobiz Wealth LLC now owns 37,117 shares of the retailer’s stock worth $7,757,000 after purchasing an additional 369 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Costco Wholesale by 24.9% in the second quarter. State of Alaska Department of Revenue now owns 68,124 shares of the retailer’s stock worth $14,234,000 after purchasing an additional 13,590 shares during the last quarter. Private Asset Management Inc. grew its stake in shares of Costco Wholesale by 2.0% in the second quarter. Private Asset Management Inc. now owns 63,743 shares of the retailer’s stock worth $12,011,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Costco Wholesale by 2.3% in the second quarter. Trust Co. of Vermont now owns 41,729 shares of the retailer’s stock worth $8,721,000 after purchasing an additional 945 shares during the last quarter. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Costco Wholesale stock opened at $236.71 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50. The company has a market cap of $100.86 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.94 and a beta of 0.91. Costco Wholesale Co. has a fifty-two week low of $164.60 and a fifty-two week high of $245.16.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business had revenue of $44.41 billion for the quarter, compared to analysts’ expectations of $44.17 billion. During the same period in the previous year, the firm posted $2.08 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that Costco Wholesale Co. will post 7.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. Costco Wholesale’s dividend payout ratio is currently 33.38%.
In other news, VP Richard A. Galanti sold 4,163 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $227.23, for a total value of $945,958.49. Following the sale, the vice president now directly owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $226.76, for a total value of $5,215,480.00. Following the completion of the sale, the vice president now directly owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,312 shares of company stock worth $14,547,272. Insiders own 0.58% of the company’s stock.
Several research firms recently issued reports on COST. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Tuesday, September 11th. BMO Capital Markets set a $260.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research note on Monday, September 10th. Raymond James raised their target price on Costco Wholesale from $225.00 to $252.00 and gave the stock an “outperform” rating in a research note on Monday, September 10th. Wells Fargo & Co cut Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 target price on the stock. in a research note on Friday, September 14th. Finally, Loop Capital set a $265.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research note on Thursday, September 6th. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $237.94.
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Costco Wholesale 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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