Cambridge Investment Research Advisors Inc. increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,159 shares of the retailer’s stock after acquiring an additional 2,583 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Costco Wholesale were worth $14,841,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWH Capital Management Inc. grew its position in Costco Wholesale by 18.3% during the 3rd quarter. CWH Capital Management Inc. now owns 3,873 shares of the retailer’s stock worth $1,116,000 after acquiring an additional 600 shares during the last quarter. 1 North Wealth Services LLC acquired a new position in Costco Wholesale during the 3rd quarter worth $87,000. American Asset Management Inc. lifted its holdings in Costco Wholesale by 5.9% during the 3rd quarter. American Asset Management Inc. now owns 1,795 shares of the retailer’s stock worth $517,000 after buying an additional 100 shares in the last quarter. Brighton Jones LLC lifted its holdings in Costco Wholesale by 0.6% during the 3rd quarter. Brighton Jones LLC now owns 10,706 shares of the retailer’s stock worth $3,084,000 after buying an additional 64 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in Costco Wholesale by 39.7% during the 3rd quarter. Leavell Investment Management Inc. now owns 2,274 shares of the retailer’s stock worth $655,000 after buying an additional 646 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.
Several research analysts have issued reports on COST shares. Bank of America upped their price objective on Costco Wholesale from $310.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Loop Capital upped their price objective on Costco Wholesale to $330.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on Costco Wholesale from $321.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Stifel Nicolaus upped their price objective on Costco Wholesale from $289.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Deutsche Bank upped their price objective on Costco Wholesale from $272.00 to $274.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $293.13.
In other news, insider Daniel M. Hines sold 5,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $298.46, for a total value of $1,492,300.00. Following the transaction, the insider now owns 22,277 shares of the company’s stock, valued at approximately $6,648,793.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul G. Moulton sold 5,976 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $298.06, for a total value of $1,781,206.56. Following the completion of the transaction, the vice president now directly owns 36,010 shares in the company, valued at approximately $10,733,140.60. The disclosure for this sale can be found here. In the last three months, insiders sold 12,317 shares of company stock worth $3,677,494. 0.21% of the stock is currently owned by company insiders.
COST stock opened at $298.94 on Tuesday. The business’s fifty day moving average is $293.61 and its 200-day moving average is $270.81. The company has a quick ratio of 0.52, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The company has a market cap of $130.36 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 4.06 and a beta of 0.94. Costco Wholesale Co. has a twelve month low of $189.51 and a twelve month high of $307.34.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.15. The company had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.36 EPS. Research analysts anticipate that Costco Wholesale Co. will post 8.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is currently 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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