Cannell Peter B & Co. Inc. lowered its stake in Costco (NASDAQ:COST) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,832 shares of the retailer’s stock after selling 560 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Costco were worth $14,289,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. CENTRAL TRUST Co lifted its holdings in Costco by 1.0% in the fourth quarter. CENTRAL TRUST Co now owns 26,520 shares of the retailer’s stock worth $4,936,000 after purchasing an additional 265 shares during the period. Fiduciary Trust Co. lifted its holdings in Costco by 3.0% in the fourth quarter. Fiduciary Trust Co. now owns 9,116 shares of the retailer’s stock worth $1,696,000 after purchasing an additional 265 shares during the period. Boston Financial Mangement LLC lifted its holdings in Costco by 0.3% in the fourth quarter. Boston Financial Mangement LLC now owns 107,714 shares of the retailer’s stock worth $20,048,000 after purchasing an additional 288 shares during the period. Fulton Bank N.A. lifted its holdings in Costco by 2.2% in the fourth quarter. Fulton Bank N.A. now owns 13,566 shares of the retailer’s stock worth $2,525,000 after purchasing an additional 290 shares during the period. Finally, Cypress Capital Management LLC WY raised its position in Costco by 11.4% in the fourth quarter. Cypress Capital Management LLC WY now owns 2,830 shares of the retailer’s stock worth $527,000 after acquiring an additional 290 shares in the last quarter. 72.99% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on COST. Argus boosted their price target on shares of Costco to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Vetr upgraded shares of Costco from a “hold” rating to a “buy” rating and set a $200.28 price target on the stock in a research report on Monday, February 5th. BidaskClub cut shares of Costco from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $205.00 price target (down from $209.00) on shares of Costco in a research report on Thursday, March 8th. Finally, Wells Fargo upgraded shares of Costco from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $191.42 to $188.91 in a research report on Monday, April 16th. Eight 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 stock. The company has an average rating of “Buy” and a consensus price target of $193.37.
In other news, VP Timothy L. Rose sold 12,000 shares of the company’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $184.46, for a total value of $2,213,520.00. Following the transaction, the vice president now owns 22,903 shares in the company, valued at approximately $4,224,687.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $185.33, for a total value of $3,150,610.00. Following the completion of the transaction, the vice president now owns 34,903 shares in the company, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. Insiders sold a total of 62,067 shares of company stock worth $11,700,142 in the last quarter. 0.74% of the stock is owned by corporate insiders.
Shares of Costco opened at $198.96 on Monday, according to MarketBeat Ratings. The stock has a market capitalization of $87.31 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.81 and a beta of 0.95. Costco has a fifty-two week low of $150.00 and a fifty-two week high of $201.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00.
Costco (NASDAQ:COST) last issued its earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). The business had revenue of $33 billion during the quarter, compared to analyst estimates of $32.73 billion. Costco had a net margin of 2.18% and a return on equity of 24.74%. Costco’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. sell-side analysts expect that Costco will post 6.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be issued a $0.57 dividend. This is an increase from Costco’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.15%. Costco’s dividend payout ratio is currently 39.18%.
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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