Welch & Forbes LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,364 shares of the retailer’s stock after acquiring an additional 297 shares during the period. Welch & Forbes LLC’s holdings in Costco Wholesale were worth $32,373,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Burns J W & Co. Inc. NY grew its position in shares of Costco Wholesale by 10.9% during the third quarter. Burns J W & Co. Inc. NY now owns 9,997 shares of the retailer’s stock worth $2,880,000 after acquiring an additional 979 shares during the last quarter. Abner Herrman & Brock LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $243,000. Murphy Capital Management Inc. lifted its holdings in shares of Costco Wholesale by 1.6% during the third quarter. Murphy Capital Management Inc. now owns 3,085 shares of the retailer’s stock worth $888,000 after purchasing an additional 50 shares during the period. Perkins Coie Trust Co lifted its holdings in shares of Costco Wholesale by 40.5% during the third quarter. Perkins Coie Trust Co now owns 3,259 shares of the retailer’s stock worth $939,000 after purchasing an additional 940 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in shares of Costco Wholesale during the third quarter worth $207,000. Institutional investors and hedge funds own 71.07% of the company’s stock.
In other Costco Wholesale news, VP Paul G. Moulton sold 5,976 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $298.06, for a total value of $1,781,206.56. Following the completion of the sale, the vice president now owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on COST. ValuEngine downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group increased their price target on Costco Wholesale from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Loop Capital increased their price target on Costco Wholesale to $330.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Barclays set a $275.00 price target on Costco Wholesale and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Sanford C. Bernstein downgraded Costco Wholesale from a “market perform” rating to an “underperform” rating and increased their price target for the stock from $220.00 to $230.00 in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $293.13.
Costco Wholesale stock traded up $2.69 during midday trading on Friday, reaching $299.83. The company’s stock had a trading volume of 1,082,755 shares, compared to its average volume of 2,572,359. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $307.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01. The stock’s 50 day simple moving average is $290.11 and its 200 day simple moving average is $265.69. The firm has a market capitalization of $128.37 billion, a PE ratio of 36.61, a P/E/G ratio of 4.00 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 3rd. The retailer reported $2.69 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 company had revenue of $47.50 billion during the quarter, compared to the consensus estimate of $47.71 billion. During the same quarter last year, the company earned $2.36 earnings per share. Costco Wholesale’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Co. will post 8.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, August 29th. Costco Wholesale’s dividend payout ratio (DPR) is currently 31.75%.
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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