Bridges Investment Management Inc. raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,770 shares of the retailer’s stock after purchasing an additional 2,305 shares during the quarter. Bridges Investment Management Inc.’s holdings in Costco Wholesale were worth $5,803,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of COST. BlackRock Inc. grew its position in Costco Wholesale by 3.3% during the second quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock worth $5,667,910,000 after buying an additional 858,755 shares during the period. FMR LLC grew its position in Costco Wholesale by 13.5% during the second quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock worth $2,209,107,000 after buying an additional 1,256,873 shares during the period. Fisher Asset Management LLC grew its position in Costco Wholesale by 4.4% during the second quarter. Fisher Asset Management LLC now owns 2,597,844 shares of the retailer’s stock worth $542,898,000 after buying an additional 109,028 shares during the period. Schwab Charles Investment Management Inc. grew its position in Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock worth $376,180,000 after buying an additional 23,227 shares during the period. Finally, Bank of Montreal Can grew its position in Costco Wholesale by 8.6% during the second quarter. Bank of Montreal Can now owns 1,705,602 shares of the retailer’s stock worth $356,437,000 after buying an additional 134,814 shares during the period. Institutional investors own 71.49% of the company’s stock.
Shares of NASDAQ COST opened at $241.27 on Friday. Costco Wholesale Co. has a 12-month low of $154.11 and a 12-month high of $245.16. The stock has a market capitalization of $107.10 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 2.89 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, August 30th. Costco Wholesale’s dividend payout ratio (DPR) is presently 39.18%.
Several brokerages have weighed in on COST. Loop Capital upped their target price on shares of Costco Wholesale to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Robert W. Baird upped their target price on shares of Costco Wholesale from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, June 7th. BMO Capital Markets set a $260.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Monday. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, Telsey Advisory Group upped their target price on shares of Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $223.94.
In other Costco Wholesale news, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $219.22, for a total value of $3,288,300.00. Following the sale, the vice president now owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $208.42, for a total transaction of $625,260.00. Following the completion of the sale, the director now directly owns 8,654 shares in the company, valued at approximately $1,803,666.68. The disclosure for this sale can be found here. Insiders sold 29,585 shares of company stock worth $6,424,076 in the last ninety days. Insiders own 0.74% of the company’s stock.
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.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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