R. G. Niederhoffer Capital Management Inc. bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the third quarter, HoldingsChannel.com reports. The fund bought 1,400 shares of the retailer’s stock, valued at approximately $329,000. Costco Wholesale makes up about 2.0% of R. G. Niederhoffer Capital Management Inc.’s portfolio, making the stock its 17th largest position.
A number of other large investors have also modified their holdings of COST. Joel Isaacson & Co. LLC lifted its stake in shares of Costco Wholesale by 14.0% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,787 shares of the retailer’s stock worth $420,000 after acquiring an additional 220 shares during the period. Telemus Capital LLC lifted its stake in shares of Costco Wholesale by 6.8% in the third quarter. Telemus Capital LLC now owns 3,499 shares of the retailer’s stock valued at $822,000 after purchasing an additional 224 shares during the period. Cypress Capital Management LLC WY lifted its stake in shares of Costco Wholesale by 8.0% in the second quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after purchasing an additional 225 shares during the period. McIlrath & Eck LLC lifted its stake in shares of Costco Wholesale by 16.8% in the second quarter. McIlrath & Eck LLC now owns 1,585 shares of the retailer’s stock valued at $331,000 after purchasing an additional 228 shares during the period. Finally, Cambridge Trust Co. lifted its stake in shares of Costco Wholesale by 11.2% in the third quarter. Cambridge Trust Co. now owns 2,337 shares of the retailer’s stock valued at $549,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Several analysts recently commented on the stock. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 23rd. Wells Fargo & Co raised their price objective on shares of Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Cowen reiterated a “buy” rating and issued a $240.00 price objective on shares of Costco Wholesale in a research note on Friday, August 10th. Telsey Advisory Group raised their price objective on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Finally, Loop Capital raised their price objective on shares of Costco Wholesale to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $237.94.
In other news, Director Richard M. Libenson sold 2,049 shares of Costco Wholesale stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $224.00, for a total transaction of $458,976.00. Following the completion of the sale, the director now directly owns 3,049 shares in the company, valued at $682,976. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $235.81, for a total transaction of $707,430.00. Following the sale, the director now owns 8,654 shares of the company’s stock, valued at $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold a total of 64,312 shares of company stock valued at $14,547,272 over the last 90 days. 0.58% of the stock is currently owned by insiders.
NASDAQ:COST opened at $230.16 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Costco Wholesale Co. has a twelve month low of $163.78 and a twelve month high of $245.16. The stock has a market cap of $100.86 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. During the same period last year, the firm posted $2.08 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Co. will post 7.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.28 annualized dividend and a yield of 0.99%. Costco Wholesale’s dividend payout ratio (DPR) is currently 33.38%.
Costco Wholesale 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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