United Capital Financial Advisers LLC lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 243,662 shares of the retailer’s stock after buying an additional 3,198 shares during the period. United Capital Financial Advisers LLC’s holdings in Costco Wholesale were worth $96,410,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Unified Trust Company N.A. increased its position in shares of Costco Wholesale by 7.2% during the 2nd quarter. Unified Trust Company N.A. now owns 11,689 shares of the retailer’s stock valued at $4,625,000 after purchasing an additional 783 shares during the last quarter. Cable Hill Partners LLC increased its position in shares of Costco Wholesale by 9.5% during the 2nd quarter. Cable Hill Partners LLC now owns 1,834 shares of the retailer’s stock valued at $726,000 after purchasing an additional 159 shares during the last quarter. Clear Perspective Advisors LLC increased its position in shares of Costco Wholesale by 13.8% during the 2nd quarter. Clear Perspective Advisors LLC now owns 1,793 shares of the retailer’s stock valued at $709,000 after purchasing an additional 217 shares during the last quarter. Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $1,686,000. Finally, Covington Capital Management increased its position in shares of Costco Wholesale by 1.2% during the 2nd quarter. Covington Capital Management now owns 97,536 shares of the retailer’s stock valued at $38,592,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors own 66.96% of the company’s stock.
Several equities research analysts recently weighed in on COST shares. Stifel Nicolaus lifted their price objective on Costco Wholesale from $420.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. Loop Capital lifted their target price on Costco Wholesale from $455.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Raymond James lifted their target price on Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a report on Friday, September 24th. Jefferies Financial Group lifted their target price on Costco Wholesale from $500.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $500.00 target price on shares of Costco Wholesale in a report on Friday, September 17th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $469.83.
COST stock traded up $5.42 during midday trading on Thursday, hitting $450.72. The company had a trading volume of 45,077 shares, compared to its average volume of 2,234,364. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. Costco Wholesale Co. has a 52 week low of $307.00 and a 52 week high of $470.49. The stock’s 50 day moving average price is $453.08 and its 200 day moving average price is $410.08. The stock has a market cap of $199.14 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 4.35 and a beta of 0.66.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a return on equity of 27.30% and a net margin of 2.53%. The firm had revenue of $61.44 billion during the quarter, compared to the consensus estimate of $61.45 billion. During the same quarter in the previous year, the company posted $3.13 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Analysts predict that Costco Wholesale Co. will post 10.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders 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 dividend yield of 0.70%. Costco Wholesale’s dividend payout ratio (DPR) is presently 35.71%.
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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