Resources Management Corp CT ADV bought a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,478 shares of the retailer’s stock, valued at approximately $2,154,000.
Several other hedge funds have also recently added to or reduced their stakes in COST. Tocqueville Asset Management L.P. grew its holdings in shares of Costco Wholesale by 0.5% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 6,422 shares of the retailer’s stock valued at $1,850,000 after buying an additional 34 shares during the period. CX Institutional lifted its holdings in shares of Costco Wholesale by 0.5% during the 3rd quarter. CX Institutional now owns 7,182 shares of the retailer’s stock valued at $2,069,000 after purchasing an additional 35 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Costco Wholesale by 9.2% during the 3rd quarter. Crewe Advisors LLC now owns 415 shares of the retailer’s stock valued at $120,000 after purchasing an additional 35 shares in the last quarter. Brandywine Oak Private Wealth LLC grew its position in shares of Costco Wholesale by 2.5% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,476 shares of the retailer’s stock valued at $425,000 after purchasing an additional 36 shares during the period. Finally, Hills Bank & Trust Co. grew its position in shares of Costco Wholesale by 0.5% in the 3rd quarter. Hills Bank & Trust Co. now owns 7,017 shares of the retailer’s stock valued at $2,021,000 after purchasing an additional 38 shares during the period. Institutional investors own 70.38% of the company’s stock.
Several analysts have commented on COST shares. Royal Bank of Canada raised their target price on shares of Costco Wholesale from $321.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Gordon Haskett upgraded shares of Costco Wholesale from a “hold” rating to an “accumulate” rating and upped their price target for the company from $255.00 to $330.00 in a report on Friday, September 20th. Deutsche Bank increased their price objective on shares of Costco Wholesale from $272.00 to $274.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. Guggenheim restated a “hold” rating on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Robert W. Baird set a $325.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. Costco Wholesale has a consensus rating of “Hold” and an average price target of $295.04.
In related news, Director Susan L. Decker sold 333 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $297.50, for a total transaction of $99,067.50. Following the completion of the transaction, the director now directly owns 41,470 shares of the company’s stock, valued at $12,337,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 1,984 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $302.80, for a total value of $600,755.20. Following the completion of the transaction, the chief financial officer now owns 26,165 shares of the company’s stock, valued at $7,922,762. The disclosure for this sale can be found here. Insiders sold a total of 36,780 shares of company stock valued at $11,032,292 in the last 90 days. 0.21% of the stock is owned by corporate insiders.
COST traded up $0.85 during trading hours on Wednesday, hitting $296.52. 1,709,146 shares of the company’s stock were exchanged, compared to its average volume of 1,608,069. The stock has a market cap of $131.81 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 4.12 and a beta of 0.91. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $307.34. The stock’s 50-day moving average is $299.90 and its two-hundred day moving average is $280.60. The company has a quick ratio of 0.52, a current ratio of 1.01 and a debt-to-equity ratio of 0.33.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm had revenue of $47.50 billion for the quarter, compared to analyst estimates of $47.71 billion. During the same period in the previous year, the business earned $2.36 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Co. will post 8.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Thursday, October 31st. Costco Wholesale’s payout ratio is 31.75%.
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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