Utah Retirement Systems increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,301 shares of the retailer’s stock after acquiring an additional 400 shares during the period. Utah Retirement Systems’ holdings in Costco Wholesale were worth $19,096,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Parkside Investments LLC acquired a new stake in Costco Wholesale in the third quarter valued at $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Costco Wholesale in the second quarter valued at $119,000. Lee Financial Co grew its holdings in Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after purchasing an additional 216 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after purchasing an additional 360 shares during the last quarter. Finally, Legacy Advisors LLC grew its holdings in Costco Wholesale by 632.9% in the third quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock valued at $136,000 after purchasing an additional 500 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Richard M. Libenson sold 2,049 shares of the stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $224.00, for a total transaction of $458,976.00. Following the transaction, the director now directly owns 3,049 shares in the company, valued at $682,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $235.81, for a total value of $707,430.00. Following the transaction, the director now owns 8,654 shares in the company, valued at $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold 61,312 shares of company stock worth $13,847,852 over the last quarter. 0.58% of the stock is currently owned by company insiders.
Several analysts have weighed in on the company. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Wednesday. Citigroup lowered Costco Wholesale from a “buy” rating to a “neutral” rating and lowered their target price for the company from $257.00 to $238.00 in a report on Monday. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 23rd. Northcoast Research raised Costco Wholesale from a “neutral” rating to a “buy” rating in a report on Friday, October 12th. Finally, Argus reissued a “buy” rating and issued a $255.00 target price on shares of Costco Wholesale in a report on Thursday, October 11th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $236.85.
Shares of NASDAQ:COST traded down $5.73 on Wednesday, hitting $226.35. The company had a trading volume of 3,387,916 shares, compared to its average volume of 2,159,473. 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 52-week low of $175.79 and a 52-week high of $245.16. The company has a market capitalization of $101.35 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.96 and a beta of 0.90.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 7.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 annualized dividend and a yield of 1.01%. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
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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