Hanson & Doremus Investment Management decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,193 shares of the retailer’s stock after selling 2,318 shares during the quarter. Costco Wholesale makes up approximately 0.9% of Hanson & Doremus Investment Management’s holdings, making the stock its 22nd largest holding. Hanson & Doremus Investment Management’s holdings in Costco Wholesale were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in Costco Wholesale in the 2nd quarter valued at about $103,000. Well Done LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at about $109,000. Smart Portfolios LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at about $113,000. Trilogy Capital Inc. purchased a new stake in Costco Wholesale in the 1st quarter valued at about $116,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Costco Wholesale by 82.9% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 737 shares of the retailer’s stock valued at $138,000 after buying an additional 334 shares during the period. Institutional investors own 72.19% of the company’s stock.
Several analysts have commented on the company. BidaskClub upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Oppenheimer lifted their price target on Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday. Argus set a $255.00 price target on Costco Wholesale and gave the company a “buy” rating in a report on Tuesday. Loop Capital restated a “hold” rating on shares of Costco Wholesale in a report on Friday, August 17th. Finally, Cowen restated a “buy” rating and issued a $240.00 price target on shares of Costco Wholesale in a report on Friday, August 10th. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $209.86.
In other Costco Wholesale news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $218.65, for a total value of $655,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy L. Rose sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $205.19, for a total value of $512,975.00. Following the completion of the transaction, the vice president now owns 20,403 shares of the company’s stock, valued at approximately $4,186,491.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,491 shares of company stock valued at $8,754,977. 0.58% of the stock is owned by company insiders.
Shares of NASDAQ:COST opened at $228.54 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.47. Costco Wholesale Co. has a 1 year low of $150.06 and a 1 year high of $230.10. The stock has a market cap of $98.97 billion, a PE ratio of 34.40, a PEG ratio of 2.80 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $32.36 billion during the quarter, compared to analysts’ expectations of $31.89 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. sell-side analysts forecast that Costco Wholesale Co. will post 6.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, August 30th. Costco Wholesale’s dividend payout ratio is presently 39.18%.
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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