Oarsman Capital Inc. bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 365 shares of the retailer’s stock, valued at approximately $207,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its stake in Costco Wholesale by 24.5% in the third quarter. California Public Employees Retirement System now owns 2,288,741 shares of the retailer’s stock valued at $1,028,446,000 after buying an additional 450,303 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $202,327,000. ProShare Advisors LLC raised its stake in Costco Wholesale by 56.0% in the fourth quarter. ProShare Advisors LLC now owns 819,712 shares of the retailer’s stock valued at $465,350,000 after buying an additional 294,118 shares during the period. Close Asset Management Ltd bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $164,500,000. Finally, National Bank of Canada FI bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $138,407,000. Institutional investors and hedge funds own 67.52% of the company’s stock.
Several research firms have issued reports on COST. Deutsche Bank Aktiengesellschaft upped their price objective on Costco Wholesale from $491.00 to $527.00 in a research note on Thursday, April 7th. BMO Capital Markets upped their target price on Costco Wholesale from $560.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. Truist Financial upped their target price on Costco Wholesale from $603.00 to $634.00 in a research report on Thursday, April 7th. Credit Suisse Group reaffirmed a “hold” rating and issued a $570.00 target price on shares of Costco Wholesale in a research report on Friday, March 4th. Finally, Loop Capital upped their target price on Costco Wholesale from $605.00 to $645.00 and gave the company a “buy” rating in a research report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has an average rating of “Buy” and an average price target of $576.79.
Costco Wholesale (NASDAQ:COST – Get Rating) last released its earnings results on Thursday, March 3rd. The retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.18. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The firm had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Co. will post 13.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s dividend payout ratio is presently 29.01%.
In related news, EVP Claudine Adamo sold 500 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $602.03, for a total transaction of $301,015.00. Following the completion of the transaction, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at approximately $5,983,576.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 250 shares of the firm’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $554.67, for a total value of $138,667.50. The disclosure for this sale can be found here. Insiders sold a total of 9,248 shares of company stock valued at $5,417,137 over the last quarter. 0.22% of the stock is owned by corporate insiders.
About Costco Wholesale (Get Rating)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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