Providence Wealth Advisors LLC bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 868 shares of the retailer’s stock, valued at approximately $204,000.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Costco Wholesale by 3.3% during the 2nd quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock valued at $5,667,910,000 after acquiring an additional 858,755 shares during the period. FMR LLC boosted its holdings in Costco Wholesale by 13.5% during the 2nd quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock valued at $2,209,107,000 after acquiring an additional 1,256,873 shares during the period. Northern Trust Corp boosted its holdings in Costco Wholesale by 0.6% during the 2nd quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock valued at $1,301,817,000 after acquiring an additional 37,778 shares during the period. Fisher Asset Management LLC boosted its holdings in Costco Wholesale by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 2,680,719 shares of the retailer’s stock valued at $629,647,000 after acquiring an additional 82,875 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Costco Wholesale by 1.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock valued at $376,180,000 after acquiring an additional 23,227 shares during the period. Hedge funds and other institutional investors own 71.65% of the company’s stock.
A number of equities analysts recently issued reports on COST shares. Loop Capital boosted their price objective on Costco Wholesale to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Wells Fargo & Co boosted their price objective on Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Raymond James boosted their price objective on Costco Wholesale from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, July 17th. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Citigroup lifted their target price on Costco Wholesale from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $237.94.
Shares of NASDAQ COST opened at $236.71 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 0.46. The firm has a market cap of $100.86 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.94 and a beta of 0.91. Costco Wholesale Co. has a twelve month low of $164.60 and a twelve month high of $245.16.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. Research analysts expect that Costco Wholesale Co. will post 7.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 8th. Costco Wholesale’s payout ratio is 33.38%.
In other news, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total value of $5,029,200.00. Following the completion of the transaction, the insider now directly owns 322,958 shares of the company’s stock, valued at approximately $72,187,572.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $233.14, for a total value of $699,420.00. Following the completion of the transaction, the director now directly owns 8,654 shares of the company’s stock, valued at $2,017,593.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,312 shares of company stock valued at $14,547,272. Corporate insiders own 0.58% of the company’s stock.
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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