Burns J W & Co. Inc. NY grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 10.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,997 shares of the retailer’s stock after buying an additional 979 shares during the period. Burns J W & Co. Inc. NY’s holdings in Costco Wholesale were worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of COST. Nuveen Asset Management LLC boosted its stake in Costco Wholesale by 40,778.5% during the second quarter. Nuveen Asset Management LLC now owns 4,772,976 shares of the retailer’s stock worth $1,261,307,000 after buying an additional 4,761,300 shares during the period. Parnassus Investments CA acquired a new stake in Costco Wholesale during the second quarter worth approximately $591,885,000. Thoroughbred Financial Services LLC raised its holdings in Costco Wholesale by 31,276.3% during the second quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock worth $84,371,000 after purchasing an additional 841,019 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $159,976,000. Finally, FMR LLC increased its holdings in shares of Costco Wholesale by 5.0% in the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after acquiring an additional 518,843 shares during the period. Institutional investors and hedge funds own 71.07% of the company’s stock.
Shares of COST stock traded up $1.91 on Friday, reaching $299.05. 908,575 shares of the stock were exchanged, 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 one year low of $189.51 and a one year high of $307.34. The stock has a 50 day moving average price of $290.11 and a 200 day moving average price of $265.69. The stock has a market cap of $128.37 billion, a PE ratio of 36.51, a P/E/G ratio of 4.00 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The firm had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. During the same period in the previous year, the firm earned $2.36 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that Costco Wholesale Co. will post 8.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.87%. Costco Wholesale’s payout ratio is presently 31.75%.
COST has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Costco Wholesale from $321.00 to $329.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. BMO Capital Markets lifted their price target on Costco Wholesale from $275.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Oppenheimer downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $295.00 to $300.00 in a research note on Wednesday, September 11th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $289.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley upped their price objective on shares of Costco Wholesale from $230.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $293.13.
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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