Citizens Financial Group Inc RI lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 26.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,834 shares of the retailer’s stock after selling 12,293 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Costco Wholesale were worth $8,182,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Confluence Investment Management LLC acquired a new position in Costco Wholesale in the second quarter valued at $315,000. Chesley Taft & Associates LLC lifted its holdings in Costco Wholesale by 0.3% in the second quarter. Chesley Taft & Associates LLC now owns 103,729 shares of the retailer’s stock valued at $21,677,000 after buying an additional 288 shares during the period. Independence Advisors LLC acquired a new position in Costco Wholesale in the second quarter valued at $220,000. BKD Wealth Advisors LLC lifted its holdings in Costco Wholesale by 20.8% in the second quarter. BKD Wealth Advisors LLC now owns 1,435 shares of the retailer’s stock valued at $300,000 after buying an additional 247 shares during the period. Finally, Stokes Capital Advisors LLC lifted its holdings in Costco Wholesale by 3.1% in the second quarter. Stokes Capital Advisors LLC now owns 11,764 shares of the retailer’s stock valued at $2,458,000 after buying an additional 355 shares during the period. Institutional investors own 71.65% of the company’s stock.
Shares of NASDAQ COST opened at $237.74 on Friday. Costco Wholesale Co. has a 1-year low of $167.05 and a 1-year high of $245.16. The stock has a market cap of $105.33 billion, a PE ratio of 35.14, a P/E/G ratio of 3.07 and a beta of 0.91. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Co. will post 7.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. Costco Wholesale’s dividend payout ratio is currently 33.38%.
Several research firms recently issued reports on COST. Oppenheimer boosted their target price on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Tuesday, September 11th. Royal Bank of Canada dropped their target price on shares of Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, October 5th. Argus restated a “buy” rating and issued a $255.00 target price on shares of Costco Wholesale in a report on Thursday, October 11th. Finally, BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $237.94.
In other news, Director Richard M. Libenson sold 2,049 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $224.00, for a total transaction of $458,976.00. Following the completion of the sale, the director now directly owns 3,049 shares of the company’s stock, valued at $682,976. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $235.81, for a total transaction of $707,430.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold 64,312 shares of company stock worth $14,547,272 in the last quarter. Company insiders own 0.74% of the company’s stock.
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About Costco Wholesale
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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