Accuvest Global Advisors acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, HoldingsChannel.com reports. The fund acquired 4,051 shares of the retailer’s stock, valued at approximately $847,000.
Other hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC boosted its stake in Costco Wholesale by 12.8% in the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock valued at $657,000 after acquiring an additional 359 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in Costco Wholesale in the second quarter valued at approximately $592,000. Schwab Charles Investment Management Inc. boosted its stake in Costco Wholesale by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock valued at $376,180,000 after acquiring an additional 23,227 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Costco Wholesale by 63.1% in the first quarter. WINTON GROUP Ltd now owns 2,984 shares of the retailer’s stock valued at $562,000 after acquiring an additional 1,155 shares during the last quarter. Finally, YHB Investment Advisors Inc. boosted its stake in Costco Wholesale by 1.3% in the second quarter. YHB Investment Advisors Inc. now owns 54,053 shares of the retailer’s stock valued at $11,296,000 after acquiring an additional 696 shares during the last quarter. 72.19% of the stock is currently owned by hedge funds and other institutional investors.
COST opened at $228.54 on Wednesday. The firm has a market capitalization of $98.97 billion, a P/E ratio of 39.27, a P/E/G ratio of 2.80 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $150.06 and a 12 month high of $230.10. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 0.52.
Costco Wholesale (NASDAQ:COST) last posted 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. The business had revenue of $32.36 billion for the quarter, compared to analysts’ expectations of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. equities analysts forecast that Costco Wholesale Co. will post 6.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.28 annualized dividend and a yield of 1.00%. Costco Wholesale’s dividend payout ratio is currently 39.18%.
In related news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $195.45, for a total value of $586,350.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,691,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James P. Murphy sold 15,000 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the completion of the sale, the vice president now directly owns 33,834 shares in the company, valued at $7,417,089.48. The disclosure for this sale can be found here. Insiders sold a total of 41,491 shares of company stock worth $8,754,977 over the last ninety days. 0.58% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on COST shares. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Gordon Haskett cut shares of Costco Wholesale from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Citigroup raised their price objective on shares of Costco Wholesale from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Royal Bank of Canada raised their price objective on shares of Costco Wholesale to $213.00 and gave the company an “outperform” rating in a research note on Tuesday, May 29th. Finally, Argus raised their price objective on shares of Costco Wholesale from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and a consensus target price of $209.86.
About Costco Wholesale
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.
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.