Contravisory Investment Management Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 16,579 shares of the retailer’s stock, valued at approximately $3,894,000.
A number of other institutional investors have also added to or reduced their stakes in COST. MUFG Securities EMEA plc acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $103,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $119,000. Trilogy Capital Inc. acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $116,000. Zions Bancorporation acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $160,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $179,000. Institutional investors own 71.49% of the company’s stock.
A number of brokerages recently weighed in on COST. Loop Capital increased their price target on shares of Costco Wholesale to $230.00 and gave the company a “buy” rating in a research report on Wednesday, June 20th. Bank of America set a $255.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research note on Thursday, October 4th. Zacks Investment Research cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Argus reissued a “buy” rating and set a $255.00 target price on shares of Costco Wholesale in a research note on Thursday. Finally, BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $237.94.
In other news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total transaction of $699,420.00. Following the completion of the transaction, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $2,017,593.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Murphy sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the transaction, the vice president now directly owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $5,351,100 over the last ninety days. Company insiders own 0.58% of the company’s stock.
Shares of COST opened at $226.95 on Friday. The company has a market cap of $103.00 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. Costco Wholesale Co. has a twelve month low of $157.00 and a twelve month high of $245.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.02. The company had revenue of $44.41 billion during the quarter, compared to analysts’ expectations of $44.17 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. As a group, sell-side analysts expect that Costco Wholesale Co. will post 6.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. Costco Wholesale’s dividend payout ratio is currently 39.18%.
Costco Wholesale 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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