Riverview Trust Co purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,840 shares of the retailer’s stock, valued at approximately $579,000.
Other hedge funds also recently made changes to their positions in the company. Country Club Trust Company n.a. raised its position in Costco Wholesale by 8.0% in the 4th quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock valued at $1,336,000 after purchasing an additional 484 shares during the last quarter. Ruggie Capital Group bought a new position in Costco Wholesale in the 4th quarter valued at $61,000. Ipswich Investment Management Co. Inc. raised its position in Costco Wholesale by 80.1% in the 4th quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock valued at $3,133,000 after purchasing an additional 6,839 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Costco Wholesale by 2.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock valued at $1,585,000 after purchasing an additional 191 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV raised its position in Costco Wholesale by 5.6% in the 4th quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 1,900 shares of the retailer’s stock valued at $387,000 after purchasing an additional 100 shares during the last quarter. 71.07% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Evercore ISI assumed coverage on Costco Wholesale in a research report on Wednesday. They issued an “outperform” rating and a $260.00 price objective for the company. Nomura assumed coverage on Costco Wholesale in a research report on Wednesday. They issued a “neutral” rating and a $230.00 price objective for the company. Citigroup lifted their price objective on Costco Wholesale from $238.00 to $242.00 and gave the company a “neutral” rating in a research report on Monday, March 11th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a research report on Monday, March 11th. Finally, Morgan Stanley set a $220.00 price objective on Costco Wholesale and gave the company a “hold” rating in a research report on Friday, March 8th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $242.80.
COST stock opened at $236.98 on Thursday. The firm has a market cap of $104.27 billion, a PE ratio of 34.70, a PEG ratio of 3.38 and a beta of 0.94. Costco Wholesale Co. has a twelve month low of $180.83 and a twelve month high of $245.16. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.34. The company had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, equities research analysts predict that Costco Wholesale Co. will post 7.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Friday, February 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. Costco Wholesale’s payout ratio is currently 33.38%.
In related news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total value of $965,208.36. Following the completion of the sale, the vice president now owns 30,082 shares in the company, valued at $6,932,998.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value of $475,368.00. Following the completion of the sale, the director now owns 48,589 shares of the company’s stock, valued at approximately $11,272,648. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,587 shares of company stock valued at $1,924,179. 0.21% of the stock is currently owned by corporate insiders.
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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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