Cypress Capital Management LLC WY boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,055 shares of the retailer’s stock after purchasing an additional 225 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Costco Wholesale were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in COST. HC Financial Advisors Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth $856,000. Global X Management Co. LLC raised its position in shares of Costco Wholesale by 8.4% in the 1st quarter. Global X Management Co. LLC now owns 8,635 shares of the retailer’s stock worth $1,627,000 after buying an additional 672 shares during the period. Ashfield Capital Partners LLC raised its position in shares of Costco Wholesale by 2.0% in the 1st quarter. Ashfield Capital Partners LLC now owns 45,512 shares of the retailer’s stock worth $8,576,000 after buying an additional 901 shares during the period. HL Financial Services LLC raised its position in shares of Costco Wholesale by 5.4% in the 1st quarter. HL Financial Services LLC now owns 85,786 shares of the retailer’s stock worth $16,165,000 after buying an additional 4,360 shares during the period. Finally, FDx Advisors Inc. raised its position in shares of Costco Wholesale by 28.7% in the 1st quarter. FDx Advisors Inc. now owns 15,361 shares of the retailer’s stock worth $2,894,000 after buying an additional 3,429 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:COST opened at $225.68 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. Costco Wholesale Co. has a 12 month low of $150.06 and a 12 month high of $225.88. The stock has a market capitalization of $96.62 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 2.73 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating the consensus estimate of $1.68 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The company had revenue of $32.36 billion for the quarter, compared to analyst estimates of $31.89 billion. During the same period last year, the company posted $1.40 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. equities research analysts anticipate that Costco Wholesale Co. will post 6.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. Costco Wholesale’s dividend payout ratio is presently 39.18%.
COST has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Costco Wholesale from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Citigroup increased their target price on Costco Wholesale from $222.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Royal Bank of Canada increased their target price on Costco Wholesale to $213.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 29th. Finally, Argus increased their target price on Costco Wholesale from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Buy” and an average target price of $206.74.
In other news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $195.45, for a total transaction of $586,350.00. Following the completion of the sale, the director now directly owns 8,654 shares in the company, valued at $1,691,424.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard A. Galanti sold 2,406 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $207.11, for a total value of $498,306.66. Following the sale, the vice president now owns 25,474 shares of the company’s stock, valued at $5,275,920.14. The disclosure for this sale can be found here. Insiders have sold 41,491 shares of company stock valued at $8,754,977 over the last 90 days. Insiders own 0.58% of the company’s stock.
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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