Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 62.3% during the second quarter, HoldingsChannel.com reports. The fund owned 229,343 shares of the retailer’s stock after purchasing an additional 88,056 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Costco Wholesale were worth $47,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Arthur M. Cohen & Associates LLC raised its holdings in Costco Wholesale by 14.7% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 11,316 shares of the retailer’s stock valued at $2,365,000 after acquiring an additional 1,452 shares during the period. BlueMountain Capital Management LLC bought a new stake in Costco Wholesale during the 2nd quarter valued at $10,664,000. Capital Wealth Planning LLC bought a new stake in Costco Wholesale during the 2nd quarter valued at $262,000. Arlington Financial Advisors LLC raised its holdings in Costco Wholesale by 3.3% during the 2nd quarter. Arlington Financial Advisors LLC now owns 14,633 shares of the retailer’s stock valued at $3,200,000 after acquiring an additional 471 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Costco Wholesale by 11.5% during the 2nd quarter. Global Retirement Partners LLC now owns 5,136 shares of the retailer’s stock valued at $1,073,000 after acquiring an additional 530 shares during the period. 71.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Timothy L. Rose sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were 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 directly owns 20,403 shares in the company, valued at $4,186,491.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $204.67, for a total transaction of $1,432,690.00. Following the completion of the transaction, the insider now owns 23,853 shares of the company’s stock, valued at $4,881,993.51. The disclosure for this sale can be found here. Insiders sold 38,491 shares of company stock valued at $8,168,627 over the last quarter. 0.58% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on COST shares. Oppenheimer boosted their target price on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Royal Bank of Canada boosted their target price on shares of Costco Wholesale to $213.00 and gave the company an “outperform” rating in a report on Tuesday, May 29th. Loop Capital set a $220.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, June 1st. Cowen reissued a “buy” rating and set a $240.00 target price on shares of Costco Wholesale in a report on Friday, August 10th. Finally, Northcoast Research lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating in a research report on Friday, July 6th. Nine equities 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. The stock currently has an average rating of “Buy” and a consensus price target of $213.77.
COST opened at $234.68 on Wednesday. The firm has a market cap of $102.24 billion, a PE ratio of 35.54, a PEG ratio of 2.89 and a beta of 0.95. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. Costco Wholesale Co. has a one year low of $154.11 and a one year high of $234.91.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.97%. Costco Wholesale’s dividend payout ratio (DPR) is currently 39.18%.
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.
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