MML Investors Services LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,419 shares of the retailer’s stock after acquiring an additional 3,639 shares during the quarter. MML Investors Services LLC’s holdings in Costco Wholesale were worth $8,845,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Squarepoint Ops LLC lifted its holdings in Costco Wholesale by 98.8% during the 4th quarter. Squarepoint Ops LLC now owns 472,864 shares of the retailer’s stock worth $96,327,000 after buying an additional 235,058 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Costco Wholesale by 4.9% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 17,100 shares of the retailer’s stock worth $3,483,000 after buying an additional 800 shares in the last quarter. First Foundation Advisors lifted its holdings in Costco Wholesale by 16.8% during the 4th quarter. First Foundation Advisors now owns 7,706 shares of the retailer’s stock worth $1,570,000 after buying an additional 1,109 shares in the last quarter. GYL Financial Synergies LLC acquired a new position in Costco Wholesale during the 4th quarter worth $207,000. Finally, Arete Wealth Advisors LLC lifted its holdings in Costco Wholesale by 30.0% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,146 shares of the retailer’s stock worth $845,000 after buying an additional 956 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.
In other Costco Wholesale news, Director John W. Meisenbach acquired 3,000 shares of Costco Wholesale stock in a transaction dated Monday, April 1st. The stock was bought at an average cost of $242.65 per share, for a total transaction of $727,950.00. Following the purchase, the director now directly owns 12,833 shares in the company, valued at approximately $3,113,927.45. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan L. Decker sold 2,350 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total transaction of $564,000.00. Following the transaction, the director now owns 46,239 shares of the company’s stock, valued at $11,097,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,587 shares of company stock valued at $2,004,576. Corporate insiders own 0.21% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.34. The firm had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter last year, the company posted $1.59 EPS. On average, equities research analysts expect that Costco Wholesale Co. will post 7.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.07%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio is 33.38%.
COST has been the topic of several research reports. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Citigroup upped their target price on shares of Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Loop Capital upped their target price on shares of Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, April 1st. UBS Group upped their target price on shares of Costco Wholesale to $280.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Nomura upped their target price on shares of Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $248.95.
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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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