Cidel Asset Management Inc. cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,894 shares of the retailer’s stock after selling 2,817 shares during the period. Cidel Asset Management Inc.’s holdings in Costco Wholesale were worth $22,988,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC bought a new position in shares of Costco Wholesale during the third quarter worth approximately $102,000. Assetmark Inc. increased its stake in shares of Costco Wholesale by 137.0% during the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after purchasing an additional 326 shares during the period. Zions Bancorporation increased its stake in shares of Costco Wholesale by 148.4% during the third quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares during the period. Smart Portfolios LLC bought a new position in shares of Costco Wholesale during the first quarter worth approximately $113,000. Finally, American Beacon Advisors Inc. bought a new position in shares of Costco Wholesale during the fourth quarter worth approximately $120,000. 71.44% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on COST shares. Loop Capital started coverage on Costco Wholesale in a research note on Wednesday, May 16th. They set a “buy” rating and a $224.00 target price on the stock. Robert W. Baird increased their target price on Costco Wholesale from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, June 7th. Wells Fargo & Co upgraded Costco Wholesale from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $191.42 to $188.91 in a research note on Monday, April 16th. BidaskClub upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 28th. Finally, Telsey Advisory Group raised their price objective on Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $197.52.
Shares of Costco Wholesale traded up $1.01, hitting $205.12, during mid-day trading on Thursday, according to MarketBeat Ratings. 1,684,320 shares of the stock traded hands, compared to its average volume of 2,339,918. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. Costco Wholesale Co. has a twelve month low of $150.00 and a twelve month high of $205.83. The company has a market cap of $89.68 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The company had revenue of $32.36 billion for the quarter, compared to the consensus estimate of $31.89 billion. During the same quarter last year, the business posted $1.40 EPS. Costco Wholesale’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts anticipate that Costco Wholesale Co. will post 6.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were given a dividend of $0.57 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 10th. Costco Wholesale’s dividend payout ratio (DPR) is currently 39.18%.
In related news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $186.91, for a total transaction of $560,730.00. Following the completion of the transaction, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,617,519.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $184.46, for a total value of $2,213,520.00. Following the transaction, the vice president now directly owns 22,903 shares of the company’s stock, valued at $4,224,687.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,893 shares of company stock valued at $8,301,464. 0.58% of the stock is owned by corporate insiders.
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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