Sargent Investment Group LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,964 shares of the retailer’s stock, valued at approximately $400,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Oregon Public Employees Retirement Fund raised its position in Costco Wholesale by 20,897.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock valued at $165,000 after purchasing an additional 33,492,419 shares in the last quarter. Bank of New York Mellon Corp raised its position in Costco Wholesale by 55,048.5% during the third quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock valued at $1,292,998,000 after purchasing an additional 5,494,946 shares in the last quarter. AQR Capital Management LLC raised its position in Costco Wholesale by 258.8% during the third quarter. AQR Capital Management LLC now owns 2,125,078 shares of the retailer’s stock valued at $499,138,000 after purchasing an additional 1,532,770 shares in the last quarter. Capital World Investors raised its position in Costco Wholesale by 12.0% during the third quarter. Capital World Investors now owns 9,908,138 shares of the retailer’s stock valued at $2,327,223,000 after purchasing an additional 1,064,167 shares in the last quarter. Finally, BlackRock Inc. raised its position in Costco Wholesale by 3.4% during the third quarter. BlackRock Inc. now owns 28,041,444 shares of the retailer’s stock valued at $6,586,376,000 after purchasing an additional 919,651 shares in the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.
NASDAQ COST opened at $239.54 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $104.24 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 3.38 and a beta of 0.94. Costco Wholesale Co. has a 1 year low of $180.83 and a 1 year high of $245.16.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.34. The company had revenue of $35.40 billion for the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same period in the previous year, the business earned $1.59 earnings per share. As a group, analysts anticipate that Costco Wholesale Co. will post 7.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. Costco Wholesale’s payout ratio is presently 33.38%.
Several research firms have recently commented on COST. Nomura began coverage on Costco Wholesale in a report on Wednesday. They issued a “neutral” rating and a $230.00 price objective on the stock. Barclays reiterated a “hold” rating and issued a $225.00 price objective on shares of Costco Wholesale in a report on Wednesday, January 9th. JPMorgan Chase & Co. lifted their price objective on Costco Wholesale to $248.00 and gave the stock an “overweight” rating in a report on Friday, March 8th. Deutsche Bank set a $225.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a report on Friday, March 8th. Finally, Bank of America reiterated a “buy” rating and issued a $255.00 price objective on shares of Costco Wholesale in a report on Friday, December 14th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Costco Wholesale currently has a consensus rating of “Buy” and an average target price of $242.80.
In related news, VP Richard A. Galanti sold 4,188 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total value of $965,208.36. Following the sale, the vice president now directly owns 30,082 shares of the company’s stock, valued at $6,932,998.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total value of $475,368.00. Following the completion of the sale, the director now directly owns 48,589 shares in the company, valued at $11,272,648. The disclosure for this sale can be found here. Insiders sold 8,587 shares of company stock worth $1,924,179 over the last three months. 0.21% of the stock is owned by insiders.
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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.
Further Reading: What is an SEC Filing?
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