Bancreek Capital Management LP Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Bancreek Capital Management LP raised its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 55.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,563 shares of the retailer’s stock after purchasing an additional 3,413 shares during the quarter. Costco Wholesale accounts for about 3.6% of Bancreek Capital Management LP’s investment portfolio, making the stock its 6th biggest position. Bancreek Capital Management LP’s holdings in Costco Wholesale were worth $5,507,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $2,323,746,000. State Street Corp boosted its position in shares of Costco Wholesale by 10.2% during the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $10,389,605,000 after buying an additional 1,697,920 shares during the period. BlackRock Inc. raised its position in Costco Wholesale by 3.1% in the 4th quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after buying an additional 944,199 shares during the last quarter. ProShare Advisors LLC lifted its stake in Costco Wholesale by 56.0% in the 4th quarter. ProShare Advisors LLC now owns 819,712 shares of the retailer’s stock valued at $465,350,000 after acquiring an additional 294,118 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Costco Wholesale by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock worth $4,173,133,000 after acquiring an additional 246,857 shares during the last quarter. Institutional investors own 67.52% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST traded down $4.52 on Tuesday, reaching $537.38. 43,213 shares of the company’s stock were exchanged, compared to its average volume of 2,223,835. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a market cap of $238.04 billion, a price-to-earnings ratio of 42.67, a P/E/G ratio of 4.52 and a beta of 0.69. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27. The stock has a fifty day simple moving average of $494.34 and a 200-day simple moving average of $515.95.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The retailer reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.17. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The firm had revenue of $52.60 billion for the quarter, compared to the consensus estimate of $51.49 billion. During the same period in the prior year, the firm posted $2.75 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, sell-side analysts predict that Costco Wholesale Co. will post 13.04 earnings per share for the current year.

Costco Wholesale Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, July 28th. Costco Wholesale’s dividend payout ratio is currently 28.35%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COST shares. BMO Capital Markets reiterated a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a report on Monday, May 30th. Credit Suisse Group decreased their price target on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Loop Capital decreased their price target on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Telsey Advisory Group reduced their target price on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Finally, Raymond James boosted their target price on shares of Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $576.68.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Mary Agnes Wilderotter purchased 850 shares of Costco Wholesale stock in a transaction on Tuesday, June 7th. The shares were acquired at an average cost of $470.74 per share, for a total transaction of $400,129.00. Following the completion of the transaction, the director now directly owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total value of $1,160,000.00. Following the transaction, the vice president now owns 37,730 shares in the company, valued at $17,506,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Agnes Wilderotter bought 850 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was purchased at an average price of $470.74 per share, for a total transaction of $400,129.00. Following the acquisition, the director now directly owns 11,295 shares of the company’s stock, valued at approximately $5,317,008.30. The disclosure for this purchase can be found here. Insiders have sold 5,300 shares of company stock valued at $2,609,904 over the last three months. 0.22% of the stock is owned by corporate insiders.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

See Also

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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