Abner Herrman & Brock LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 842 shares of the retailer’s stock, valued at approximately $243,000.
A number of other hedge funds have also made changes to their positions in COST. Krane Funds Advisors LLC bought a new position in shares of Costco Wholesale during the second quarter worth $26,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Costco Wholesale during the second quarter worth $27,000. Cerebellum GP LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $32,000. Thor Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth $35,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Costco Wholesale by 88.6% during the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock worth $35,000 after acquiring an additional 62 shares during the period. 71.07% of the stock is currently owned by hedge funds and other institutional investors.
COST has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Costco Wholesale from $290.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Oppenheimer lowered shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $295.00 to $300.00 in a report on Wednesday, September 11th. ValuEngine lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group raised their price objective on shares of Costco Wholesale from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and a consensus price target of $293.13.
COST stock traded up $1.70 during midday trading on Friday, hitting $298.84. The company’s stock had a trading volume of 883,323 shares, compared to its average volume of 2,572,359. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.52. Costco Wholesale Co. has a twelve month low of $189.51 and a twelve month high of $307.34. The company’s fifty day moving average price is $290.11 and its 200 day moving average price is $265.69. The stock has a market capitalization of $128.37 billion, a P/E ratio of 36.49, a PEG ratio of 4.00 and a beta of 0.94.
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, beating the consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm had revenue of $47.50 billion for the quarter, compared to analyst estimates of $47.71 billion. During the same period in the previous year, the business earned $2.36 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 8.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.87%. Costco Wholesale’s payout ratio is currently 31.75%.
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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