Sandy Spring Bank increased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,096 shares of the retailer’s stock after purchasing an additional 273 shares during the quarter. Sandy Spring Bank’s holdings in Costco Wholesale were worth $4,437,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of COST. Johanson Financial Advisors Inc. raised its stake in Costco Wholesale by 30,151.3% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,135,330 shares of the retailer’s stock worth $3,858,000 after acquiring an additional 1,131,577 shares in the last quarter. Squarepoint Ops LLC raised its stake in Costco Wholesale by 343.7% during the third quarter. Squarepoint Ops LLC now owns 629,864 shares of the retailer’s stock worth $181,470,000 after acquiring an additional 487,907 shares in the last quarter. California Public Employees Retirement System raised its stake in Costco Wholesale by 28.0% during the third quarter. California Public Employees Retirement System now owns 958,790 shares of the retailer’s stock worth $276,237,000 after acquiring an additional 209,544 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Costco Wholesale by 1,432.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 114,031 shares of the retailer’s stock worth $33,516,000 after acquiring an additional 106,591 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Costco Wholesale by 43.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 343,600 shares of the retailer’s stock worth $98,995,000 after acquiring an additional 103,600 shares in the last quarter. 70.03% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on COST shares. Credit Suisse Group started coverage on Costco Wholesale in a research note on Thursday. They set a “neutral” rating and a $328.00 price objective for the company. Wells Fargo & Co increased their price objective on Costco Wholesale from $290.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Raymond James increased their price objective on Costco Wholesale from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Loop Capital reiterated a “buy” rating and set a $345.00 price objective on shares of Costco Wholesale in a research note on Monday, February 3rd. Finally, Nomura reiterated a “hold” rating and set a $300.00 price objective on shares of Costco Wholesale in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $303.83.
In other news, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $293.99, for a total value of $587,980.00. Following the completion of the sale, the vice president now directly owns 59,679 shares in the company, valued at $17,545,029.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 3,850 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $300.41, for a total value of $1,156,578.50. Following the completion of the sale, the director now owns 34,582 shares of the company’s stock, valued at $10,388,778.62. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Shares of NASDAQ:COST traded up $0.11 during midday trading on Friday, reaching $318.31. The company’s stock had a trading volume of 1,103,231 shares, compared to its average volume of 2,033,411. Costco Wholesale Co. has a fifty-two week low of $211.14 and a fifty-two week high of $318.79. The company has a market capitalization of $138.62 billion, a P/E ratio of 37.76, a P/E/G ratio of 4.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.01 and a quick ratio of 0.49. The business’s fifty day simple moving average is $302.93 and its 200-day simple moving average is $294.30.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, December 12th. The retailer reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The company had revenue of $37.04 billion during the quarter, compared to analyst estimates of $37.40 billion. During the same period last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Costco Wholesale Co. will post 8.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.82%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.75%.
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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