Certified Advisory Corp lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 19.7% during the 1st quarter, Holdings Channel reports. The firm owned 3,042 shares of the retailer’s stock after buying an additional 501 shares during the quarter. Certified Advisory Corp’s holdings in Costco Wholesale were worth $737,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of COST. Kistler Tiffany Companies LLC raised its stake in Costco Wholesale by 1.5% during the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after acquiring an additional 41 shares during the period. Nachman Norwood & Parrott Inc increased its stake in shares of Costco Wholesale by 4.1% in the first quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock valued at $269,000 after purchasing an additional 44 shares during the period. Nichols & Pratt Advisers LLP MA increased its stake in shares of Costco Wholesale by 0.9% in the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock valued at $1,215,000 after purchasing an additional 44 shares during the period. Intl Fcstone Inc. increased its stake in shares of Costco Wholesale by 3.7% in the first quarter. Intl Fcstone Inc. now owns 1,302 shares of the retailer’s stock valued at $315,000 after purchasing an additional 47 shares during the period. Finally, Community Bank & Trust Waco Texas increased its stake in shares of Costco Wholesale by 3.6% in the first quarter. Community Bank & Trust Waco Texas now owns 1,433 shares of the retailer’s stock valued at $347,000 after purchasing an additional 50 shares during the period. 71.14% of the stock is currently owned by institutional investors and hedge funds.
COST has been the topic of several analyst reports. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Citigroup raised their price target on shares of Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Loop Capital raised their price target on shares of Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, April 1st. UBS Group raised their price target on shares of Costco Wholesale to $280.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Nomura raised their price target on shares of Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus price target of $252.13.
In related news, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the completion of the sale, the vice president now directly owns 66,479 shares in the company, valued at $16,762,679.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James C. Klauer sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $255.53, for a total transaction of $1,277,650.00. Following the sale, the insider now owns 48,310 shares of the company’s stock, valued at $12,344,654.30. The disclosure for this sale can be found here. Insiders have sold 12,140 shares of company stock worth $3,056,340 in the last quarter. Company insiders own 0.21% of the company’s stock.
NASDAQ COST opened at $257.11 on Wednesday. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $259.61. 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 company has a market cap of $113.07 billion, a P/E ratio of 37.64, a P/E/G ratio of 3.59 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data 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 net margin of 2.41% and a return on equity of 25.03%. The business had revenue of $34.74 billion for the quarter, compared to analyst estimates of $34.72 billion. During the same quarter last year, the business earned $1.70 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.
Costco Wholesale announced that its Board of Directors has authorized a share buyback program on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is 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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