Brasada Capital Management LP increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,687 shares of the retailer’s stock after acquiring an additional 454 shares during the period. Brasada Capital Management LP’s holdings in Costco Wholesale were worth $3,655,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new stake in shares of Costco Wholesale in the second quarter worth approximately $26,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Costco Wholesale in the second quarter worth approximately $27,000. Horan Capital Advisors LLC. acquired a new stake in shares of Costco Wholesale in the third quarter worth approximately $31,000. Cerebellum GP LLC acquired a new stake in shares of Costco Wholesale in the third quarter worth approximately $32,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Costco Wholesale by 164.3% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock worth $32,000 after acquiring an additional 69 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:COST opened at $302.62 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $294.80 and a 200 day simple moving average of $273.79. The firm has a market cap of $131.54 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 4.09 and a beta of 0.93. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $307.34.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.15. The business had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.36 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Co. will post 8.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.65 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.86%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.75%.
A number of brokerages have weighed in on COST. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $271.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. UBS Group lifted their price target on shares of Costco Wholesale from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Bank of America lifted their price target on shares of Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Oppenheimer lowered shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $295.00 to $300.00 in a research note on Wednesday, September 11th. Finally, Nomura started coverage on shares of Costco Wholesale in a research note on Friday. They set a “neutral” rating and a $300.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $295.57.
In related news, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $298.46, for a total value of $1,492,300.00. Following the completion of the sale, the insider now owns 22,277 shares in the company, valued at $6,648,793.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 333 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The stock was sold at an average price of $297.50, for a total transaction of $99,067.50. Following the completion of the sale, the director now owns 41,470 shares of the company’s stock, valued at approximately $12,337,325. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,093 shares of company stock valued at $9,915,511. Insiders own 0.21% of the company’s stock.
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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