First Dallas Securities Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 40.8% during the first quarter, HoldingsChannel.com reports. The firm owned 2,030 shares of the retailer’s stock after selling 1,400 shares during the quarter. First Dallas Securities Inc.’s holdings in Costco Wholesale were worth $492,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of COST. Horan Capital Advisors LLC. purchased a new position in shares of Costco Wholesale in the 1st quarter valued at about $26,000. ERTS Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $30,000. Arbor Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $33,000. Thor Advisors LLC purchased a new position in shares of Costco Wholesale in the 1st quarter valued at about $35,000. Finally, PRW Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $36,000. Institutional investors own 71.08% of the company’s stock.
In other news, Director Susan L. Decker sold 2,350 shares of Costco Wholesale stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total value of $564,000.00. Following the transaction, the director now directly owns 46,239 shares in the company, valued at $11,097,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of Costco Wholesale stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $252.15, for a total value of $504,300.00. Following the completion of the transaction, the vice president now owns 66,479 shares in the company, valued at $16,762,679.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,140 shares of company stock worth $3,056,340. 0.21% of the stock is owned by insiders.
NASDAQ:COST opened at $260.15 on Monday. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $261.20. The company has a market capitalization of $114.41 billion, a PE ratio of 38.09, a P/E/G ratio of 3.65 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current year.
Costco Wholesale declared that its board has initiated a stock repurchase program on Friday, April 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.65 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, May 9th. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.
Several equities analysts have recently issued reports on the company. Nomura assumed coverage on Costco Wholesale in a research note on Wednesday, March 20th. They issued a “neutral” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Costco Wholesale to $248.00 and gave the company an “overweight” rating in a research note on Friday, March 8th. Deutsche Bank set a $225.00 price objective on Costco Wholesale and gave the company a “hold” rating in a research note on Friday, March 8th. Citigroup decreased their price objective on Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Zacks Investment Research cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $252.13.
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Costco Wholesale 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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