Berkshire Bank purchased a new position in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 478 shares of the retailer’s stock, valued at approximately $215,000.
A number of other institutional investors have also modified their holdings of the stock. Amundi acquired a new stake in Costco Wholesale during the 2nd quarter worth $425,280,000. California Public Employees Retirement System raised its stake in shares of Costco Wholesale by 53.5% in the 2nd quarter. California Public Employees Retirement System now owns 1,838,438 shares of the retailer’s stock valued at $727,415,000 after purchasing an additional 640,467 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Costco Wholesale by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,113,982 shares of the retailer’s stock valued at $2,023,449,000 after purchasing an additional 593,908 shares during the period. Cpwm LLC raised its stake in shares of Costco Wholesale by 1,058.2% in the 2nd quarter. Cpwm LLC now owns 517,937 shares of the retailer’s stock valued at $204,932,000 after purchasing an additional 473,218 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Costco Wholesale by 73.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,449 shares of the retailer’s stock valued at $430,667,000 after purchasing an additional 462,397 shares during the period. 66.87% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on COST shares. Morgan Stanley lifted their price target on Costco Wholesale from $500.00 to $510.00 and gave the company an “overweight” rating in a research note on Friday, September 24th. Jefferies Financial Group raised their price objective on Costco Wholesale from $525.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, November 4th. Loop Capital raised their price objective on Costco Wholesale from $515.00 to $545.00 and gave the company a “buy” rating in a report on Monday, November 1st. Tigress Financial restated a “buy” rating and issued a $520.00 price objective on shares of Costco Wholesale in a report on Wednesday, September 29th. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and raised their price objective for the company from $525.00 to $575.00 in a report on Thursday, November 11th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $496.23.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 EPS for the quarter, beating the consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.56% and a return on equity of 29.62%. The business had revenue of $61.44 billion during the quarter, compared to the consensus estimate of $61.45 billion. During the same period in the previous year, the business earned $3.13 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Costco Wholesale Co. will post 12.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Friday, October 29th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $3.16 annualized dividend and a yield of 0.57%. Costco Wholesale’s dividend payout ratio is currently 28.04%.
Costco Wholesale Company Profile
Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.
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