Linscomb & Williams Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,287 shares of the retailer’s stock after buying an additional 299 shares during the quarter. Linscomb & Williams Inc.’s holdings in Costco Wholesale were worth $687,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Epoch Investment Partners Inc. boosted its holdings in Costco Wholesale by 1,913.8% in the first quarter. Epoch Investment Partners Inc. now owns 1,146,393 shares of the retailer’s stock valued at $216,015,000 after purchasing an additional 1,089,467 shares during the last quarter. Carmignac Gestion purchased a new stake in Costco Wholesale in the first quarter valued at $169,704,000. Westfield Capital Management Co. LP purchased a new stake in Costco Wholesale in the first quarter valued at $70,796,000. Summit Trail Advisors LLC boosted its holdings in Costco Wholesale by 16,026.8% in the first quarter. Summit Trail Advisors LLC now owns 373,013 shares of the retailer’s stock valued at $373,000 after purchasing an additional 370,700 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in Costco Wholesale by 245,258.9% in the first quarter. CI Investments Inc. now owns 358,224 shares of the retailer’s stock valued at $67,500,000 after purchasing an additional 358,078 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the completion of the transaction, the vice president now owns 33,834 shares in the company, valued at approximately $7,417,089.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $195.45, for a total transaction of $586,350.00. Following the transaction, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,691,424.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,491 shares of company stock valued at $8,754,977. Insiders own 0.58% of the company’s stock.
Shares of Costco Wholesale stock opened at $225.68 on Friday. The stock has a market capitalization of $96.62 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 2.73 and a beta of 0.95. Costco Wholesale Co. has a fifty-two week low of $150.06 and a fifty-two week high of $225.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. The business had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. sell-side analysts predict that Costco Wholesale Co. will post 6.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. Costco Wholesale’s dividend payout ratio (DPR) is currently 39.18%.
COST has been the topic of several recent research reports. ValuEngine raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Wells Fargo & Co upped their price target on shares of Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating in a report on Wednesday, July 25th. Loop Capital initiated coverage on shares of Costco Wholesale in a report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of Costco Wholesale from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $206.74.
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.
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