Wright Investors Service Inc. grew its position in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,677 shares of the retailer’s stock after acquiring an additional 67 shares during the quarter. Wright Investors Service Inc.’s holdings in Costco Wholesale were worth $1,764,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Thoroughbred Financial Services LLC lifted its position in shares of Costco Wholesale by 31,276.3% in the second quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock valued at $84,371,000 after acquiring an additional 841,019 shares in the last quarter. Ellis Investment Partners LLC lifted its position in shares of Costco Wholesale by 24,131.7% in the first quarter. Ellis Investment Partners LLC now owns 610,154 shares of the retailer’s stock valued at $610,000 after acquiring an additional 607,636 shares in the last quarter. FMR LLC lifted its position in shares of Costco Wholesale by 5.0% in the first quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after acquiring an additional 518,843 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Costco Wholesale by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock valued at $1,227,757,000 after acquiring an additional 386,144 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Costco Wholesale by 11.5% in the first quarter. Clearbridge Investments LLC now owns 2,409,355 shares of the retailer’s stock valued at $583,401,000 after acquiring an additional 249,464 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
In other Costco Wholesale news, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now owns 41,803 shares in the company, valued at $11,213,654.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roland Michael Vachris sold 3,700 shares of Costco Wholesale stock in a transaction on Monday, June 24th. The shares were sold at an average price of $267.25, for a total value of $988,825.00. Following the completion of the sale, the vice president now owns 13,578 shares in the company, valued at approximately $3,628,720.50. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock worth $7,380,374 in the last 90 days. Company insiders own 0.21% of the company’s stock.
NASDAQ:COST traded up $2.55 on Thursday, reaching $270.70. The company’s stock had a trading volume of 65,217 shares, compared to its average volume of 1,786,482. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $284.31. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $119.32 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.95. The company has a 50 day moving average of $274.09.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the previous year, the business earned $1.70 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts anticipate that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.
Costco Wholesale announced that its board has approved a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.96%. Costco Wholesale’s dividend payout ratio is currently 38.07%.
Several equities analysts have recently weighed in on COST shares. Loop Capital raised their target price on Costco Wholesale to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group initiated coverage on Costco Wholesale in a research report on Thursday, July 11th. They set a “buy” rating and a $290.00 price objective on the stock. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a research report on Tuesday, June 11th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $261.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Co lifted their price objective on Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $266.04.
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.
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