Dearborn Partners LLC lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 64.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,011 shares of the retailer’s stock after purchasing an additional 1,574 shares during the period. Dearborn Partners LLC’s holdings in Costco Wholesale were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Costco Wholesale by 0.4% in the third quarter. Vanguard Group Inc. now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after buying an additional 158,722 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Costco Wholesale by 0.4% in the third quarter. Vanguard Group Inc now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after buying an additional 158,722 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Costco Wholesale by 3.4% in the third quarter. BlackRock Inc. now owns 28,041,444 shares of the retailer’s stock worth $6,586,376,000 after buying an additional 919,651 shares during the last quarter. FMR LLC boosted its holdings in shares of Costco Wholesale by 0.5% in the third quarter. FMR LLC now owns 10,618,916 shares of the retailer’s stock worth $2,494,171,000 after buying an additional 48,021 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Costco Wholesale by 12.0% in the third quarter. Capital World Investors now owns 9,908,138 shares of the retailer’s stock worth $2,327,223,000 after buying an additional 1,064,167 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.
In other Costco Wholesale news, Director Susan L. Decker sold 1,611 shares of Costco Wholesale stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $206.15, for a total transaction of $332,107.65. Following the transaction, the director now owns 51,389 shares of the company’s stock, valued at $10,593,842.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 739 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $205.00, for a total transaction of $151,495.00. Following the transaction, the director now directly owns 52,249 shares in the company, valued at approximately $10,711,045. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.
Shares of NASDAQ:COST opened at $217.11 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48. Costco Wholesale Co. has a 1-year low of $180.83 and a 1-year high of $245.16. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.85 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 13th. The retailer reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). Costco Wholesale had a net margin of 2.25% and a return on equity of 24.54%. The firm had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.66 billion. During the same period in the prior year, the firm earned $1.45 EPS. Costco Wholesale’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Costco Wholesale Co. will post 7.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, February 7th. Costco Wholesale’s dividend payout ratio is currently 33.38%.
A number of equities analysts recently issued reports on the stock. Citigroup downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $257.00 to $238.00 in a report on Monday, December 3rd. Loop Capital dropped their price objective on shares of Costco Wholesale to $260.00 and set a “buy” rating on the stock in a report on Friday, December 14th. Oppenheimer dropped their price objective on shares of Costco Wholesale from $262.00 to $240.00 in a report on Friday, December 14th. Wells Fargo & Co dropped their price objective on shares of Costco Wholesale from $235.00 to $220.00 and set a “market perform” rating on the stock in a report on Friday, December 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Wednesday, December 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Costco Wholesale has an average rating of “Buy” and an average price target of $244.88.
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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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