First Personal Financial Services raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,462 shares of the retailer’s stock after buying an additional 898 shares during the quarter. First Personal Financial Services’ holdings in Costco Wholesale were worth $3,260,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in COST. Vanguard Group Inc boosted its holdings in shares of Costco Wholesale by 0.4% during the third quarter. Vanguard Group Inc now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after purchasing an additional 158,722 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Costco Wholesale by 20,897.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock worth $165,000 after purchasing an additional 33,492,419 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Costco Wholesale by 2.6% during the fourth quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock worth $5,862,398,000 after purchasing an additional 736,711 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Costco Wholesale by 1.1% during the fourth quarter. Jennison Associates LLC now owns 6,452,240 shares of the retailer’s stock worth $1,314,386,000 after purchasing an additional 67,206 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Costco Wholesale by 3.4% during the fourth quarter. Northern Trust Corp now owns 6,230,704 shares of the retailer’s stock worth $1,269,257,000 after purchasing an additional 202,554 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.
COST has been the topic of several research reports. Bank of America set a $255.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, March 8th. Raymond James increased their target price on Costco Wholesale from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Evercore ISI initiated coverage on Costco Wholesale in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $260.00 target price on the stock. Morgan Stanley set a $220.00 target price on Costco Wholesale and gave the stock a “hold” rating in a research report on Friday, March 8th. Finally, Robert W. Baird increased their target price on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $249.68.
In other news, VP Richard A. Galanti sold 4,188 shares of Costco Wholesale stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total transaction of $965,208.36. Following the sale, the vice president now directly owns 30,082 shares of the company’s stock, valued at $6,932,998.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 2,350 shares of Costco Wholesale stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total value of $564,000.00. Following the sale, the director now directly owns 46,239 shares in the company, valued at $11,097,360. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,587 shares of company stock worth $2,004,576. Corporate insiders own 0.21% of the company’s stock.
NASDAQ:COST traded down $5.62 during mid-day trading on Wednesday, hitting $240.69. The company had a trading volume of 2,366,641 shares, compared to its average volume of 1,970,483. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $251.01. The firm has a market capitalization of $105.87 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 3.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.46.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The business had revenue of $35.40 billion for the quarter. During the same period in the previous year, the firm posted $1.59 earnings per share. Equities analysts anticipate that Costco Wholesale Co. will post 7.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, May 9th. Costco Wholesale’s payout ratio is presently 38.07%.
Costco Wholesale declared that its board has approved a share buyback program on Friday, April 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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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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