Heron Financial Group LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 79.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,985 shares of the retailer’s stock after purchasing an additional 876 shares during the period. Heron Financial Group LLC’s holdings in Costco Wholesale were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Provident Wealth Management LLC acquired a new stake in Costco Wholesale during the third quarter valued at $26,000. Cerebellum GP LLC acquired a new position in Costco Wholesale during the second quarter worth about $32,000. Red Cedar Capital LLC boosted its position in Costco Wholesale by 588.2% during the second quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Campbell Wealth Management acquired a new position in Costco Wholesale during the second quarter worth about $49,000. Finally, Gables Capital Management Inc. boosted its position in Costco Wholesale by 40.5% during the second quarter. Gables Capital Management Inc. now owns 177 shares of the retailer’s stock worth $54,000 after acquiring an additional 51 shares during the last quarter. 68.20% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $342.72, for a total value of $1,370,880.00. Following the completion of the transaction, the executive vice president now owns 49,402 shares in the company, valued at approximately $16,931,053.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan L. Decker sold 1,250 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $335.84, for a total transaction of $419,800.00. Following the completion of the transaction, the director now owns 25,497 shares of the company’s stock, valued at approximately $8,562,912.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,804 shares of company stock valued at $5,460,267. Company insiders own 0.22% of the company’s stock.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Costco Wholesale from $365.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Cowen lifted their target price on shares of Costco Wholesale from $370.00 to $410.00 in a research note on Wednesday, September 2nd. DA Davidson started coverage on shares of Costco Wholesale in a research note on Friday, August 14th. They set a “neutral” rating and a $363.00 target price on the stock. Jefferies Financial Group raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and lifted their target price for the stock from $321.00 to $435.00 in a research note on Thursday. Finally, Telsey Advisory Group lifted their target price on shares of Costco Wholesale from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, September 25th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $368.54.
NASDAQ COST traded up $4.96 on Friday, hitting $381.54. 2,460,490 shares of the stock were exchanged, compared to its average volume of 2,887,887. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.40. Costco Wholesale Co. has a fifty-two week low of $271.28 and a fifty-two week high of $384.87. The company has a market cap of $168.35 billion, a PE ratio of 42.30, a PEG ratio of 4.70 and a beta of 0.69. The company has a 50-day moving average price of $351.05 and a 200-day moving average price of $322.70.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. Costco Wholesale had a net margin of 2.40% and a return on equity of 22.71%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $52.03 billion. During the same quarter in the previous year, the business posted $2.69 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Costco Wholesale Co. will post 9.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, October 29th. Costco Wholesale’s payout ratio is 31.64%.
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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