Bartlett & Co. LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 145.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,999 shares of the retailer’s stock after purchasing an additional 5,917 shares during the quarter. Bartlett & Co. LLC’s holdings in Costco Wholesale were worth $2,881,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Vanguard Group Inc. boosted its position in Costco Wholesale by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 37,343,168 shares of the retailer’s stock valued at $9,868,305,000 after purchasing an additional 508,650 shares during the period. Northern Trust Corp boosted its position in Costco Wholesale by 1.0% during the 2nd quarter. Northern Trust Corp now owns 6,379,195 shares of the retailer’s stock worth $1,685,767,000 after acquiring an additional 60,035 shares during the period. Invesco Ltd. boosted its position in Costco Wholesale by 4.6% during the 2nd quarter. Invesco Ltd. now owns 4,818,879 shares of the retailer’s stock worth $1,273,437,000 after acquiring an additional 211,017 shares during the period. Nuveen Asset Management LLC boosted its position in Costco Wholesale by 40,778.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,772,976 shares of the retailer’s stock worth $1,261,307,000 after acquiring an additional 4,761,300 shares during the period. Finally, Morgan Stanley boosted its position in Costco Wholesale by 8.8% during the 2nd quarter. Morgan Stanley now owns 3,394,496 shares of the retailer’s stock worth $897,029,000 after acquiring an additional 274,845 shares during the period. Hedge funds and other institutional investors own 71.16% of the company’s stock.
COST has been the subject of a number of analyst reports. Deutsche Bank boosted their price target on Costco Wholesale from $274.00 to $286.00 and gave the stock a “hold” rating in a research report on Thursday. Loop Capital boosted their price objective on Costco Wholesale to $330.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a research note on Thursday, October 10th. BidaskClub downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer downgraded Costco Wholesale from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $295.00 to $300.00 in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. Costco Wholesale presently has an average rating of “Buy” and an average target price of $293.65.
In other news, Director Susan L. Decker sold 333 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $297.50, for a total transaction of $99,067.50. Following the completion of the sale, the director now owns 41,470 shares in the company, valued at approximately $12,337,325. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $298.46, for a total value of $1,492,300.00. Following the sale, the insider now owns 22,277 shares of the company’s stock, valued at approximately $6,648,793.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,115 shares of company stock valued at $8,407,148. 0.21% of the stock is currently owned by corporate insiders.
NASDAQ COST traded down $3.67 on Friday, reaching $301.54. The stock had a trading volume of 72,808 shares, compared to its average volume of 1,750,933. The business has a 50 day moving average price of $294.51 and a 200 day moving average price of $273.52. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $307.34. The company has a market capitalization of $131.54 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 4.09 and a beta of 0.93.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 3rd. The retailer reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The firm had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $47.71 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Costco Wholesale Co. will post 8.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.75%.
About Costco Wholesale
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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