Balasa Dinverno & Foltz LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,713 shares of the retailer’s stock after purchasing an additional 159 shares during the quarter. Balasa Dinverno & Foltz LLC’s holdings in Costco Wholesale were worth $782,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Crewe Advisors LLC increased its holdings in Costco Wholesale by 9.2% during the 3rd quarter. Crewe Advisors LLC now owns 415 shares of the retailer’s stock worth $120,000 after purchasing an additional 35 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth approximately $2,152,000. Eqis Capital Management Inc. increased its holdings in Costco Wholesale by 61.7% during the 3rd quarter. Eqis Capital Management Inc. now owns 3,708 shares of the retailer’s stock worth $1,068,000 after purchasing an additional 1,415 shares during the last quarter. AE Wealth Management LLC increased its holdings in Costco Wholesale by 13.7% during the 3rd quarter. AE Wealth Management LLC now owns 13,601 shares of the retailer’s stock worth $3,919,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Putnam FL Investment Management Co. increased its holdings in Costco Wholesale by 4.3% during the 3rd quarter. Putnam FL Investment Management Co. now owns 72,125 shares of the retailer’s stock worth $20,780,000 after purchasing an additional 2,983 shares during the last quarter. Institutional investors own 71.14% of the company’s stock.
NASDAQ:COST opened at $300.50 on Wednesday. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $307.34. The firm has a market capitalization of $133.05 billion, a P/E ratio of 36.69, a P/E/G ratio of 4.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.52. The business has a 50 day simple moving average of $295.68 and a 200 day simple moving average of $274.64.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The business had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Costco Wholesale Co. will post 8.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. Costco Wholesale’s dividend payout ratio is currently 31.75%.
In related news, EVP Russell D. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $302.83, for a total transaction of $302,830.00. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $302.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul G. Moulton sold 5,976 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 36,010 shares of the company’s stock, valued at approximately $10,733,140.60. The disclosure for this sale can be found here. Insiders have sold a total of 33,093 shares of company stock valued at $9,915,511 in the last 90 days. Insiders own 0.21% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Costco Wholesale from $230.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. They noted that the move was a valuation call. Evercore ISI reiterated a “buy” rating on shares of Costco Wholesale in a report on Sunday, August 11th. BidaskClub downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Nomura assumed coverage on Costco Wholesale in a report on Friday, November 8th. They issued a “neutral” rating and a $300.00 price target for the company. Finally, Barclays set a $275.00 price target on Costco Wholesale and gave the company a “hold” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $295.57.
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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