Cable Hill Partners LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,834 shares of the retailer’s stock after acquiring an additional 159 shares during the period. Cable Hill Partners LLC’s holdings in Costco Wholesale were worth $726,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in Costco Wholesale during the second quarter valued at about $31,000. KB Financial Partners LLC bought a new stake in Costco Wholesale during the first quarter valued at about $35,000. West Financial Advisors LLC boosted its holdings in Costco Wholesale by 100.0% during the second quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock valued at $40,000 after acquiring an additional 50 shares during the period. PNC Managed Account Solutions Inc. acquired a new position in Costco Wholesale in the second quarter worth about $42,000. Finally, FFT Wealth Management LLC acquired a new position in Costco Wholesale in the second quarter worth about $48,000. Institutional investors and hedge funds own 66.96% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Monday, September 6th. Morgan Stanley increased their target price on shares of Costco Wholesale from $500.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, September 24th. Wells Fargo & Company raised their price objective on shares of Costco Wholesale from $415.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 5th. MKM Partners raised their price objective on shares of Costco Wholesale from $336.00 to $385.00 and gave the stock a “neutral” rating in a report on Friday, July 9th. Finally, Robert W. Baird lifted their price target on shares of Costco Wholesale from $500.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Buy” and an average price target of $469.83.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The company had revenue of $61.44 billion for the quarter, compared to analyst estimates of $61.45 billion. During the same period in the prior year, the firm posted $3.13 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Sell-side analysts expect that Costco Wholesale Co. will post 10.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, October 29th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.70%. Costco Wholesale’s dividend payout ratio is presently 35.71%.
In related news, VP Joseph P. Portera sold 3,287 shares of the stock in a transaction on Friday, August 13th. The shares were sold at an average price of $445.50, for a total transaction of $1,464,358.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.
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