Providence Wealth Advisors LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 868 shares of the retailer’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC purchased a new stake in Costco Wholesale in the 3rd quarter valued at approximately $216,000. Private Advisor Group LLC increased its holdings in shares of Costco Wholesale by 65.7% during the 3rd quarter. Private Advisor Group LLC now owns 27,446 shares of the retailer’s stock worth $6,446,000 after buying an additional 10,881 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Costco Wholesale by 6.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 18,524 shares of the retailer’s stock worth $4,351,000 after buying an additional 1,121 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth $6,368,000. Finally, Synovus Financial Corp increased its holdings in shares of Costco Wholesale by 2.3% during the 3rd quarter. Synovus Financial Corp now owns 26,485 shares of the retailer’s stock worth $6,218,000 after buying an additional 589 shares during the last quarter. Institutional investors and hedge funds own 71.82% of the company’s stock.
In other Costco Wholesale news, VP Roland Michael Vachris sold 6,600 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $225.88, for a total value of $1,490,808.00. Following the transaction, the vice president now directly owns 17,282 shares in the company, valued at $3,903,658.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $226.76, for a total transaction of $5,215,480.00. Following the completion of the transaction, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,312 shares of company stock worth $14,547,272. Insiders own 0.74% of the company’s stock.
Several analysts recently issued reports on COST shares. Oppenheimer increased their price target on Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Wells Fargo & Co cut shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 target price on the stock. in a report on Friday, September 14th. Loop Capital set a $265.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, September 6th. Royal Bank of Canada dropped their price target on shares of Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating on the stock in a research note on Friday, October 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $227.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday, September 17th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $237.94.
Shares of COST opened at $231.00 on Friday. The firm has a market capitalization of $97.72 billion, a P/E ratio of 33.82, a PEG ratio of 2.85 and a beta of 0.91. Costco Wholesale Co. has a one year low of $173.54 and a one year high of $245.16. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $44.17 billion. During the same quarter last year, the firm posted $2.08 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that Costco Wholesale Co. will post 7.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 0.99%. Costco Wholesale’s payout ratio is 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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