Headinvest LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 98.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,060 shares of the retailer’s stock after acquiring an additional 1,518 shares during the period. Headinvest LLC’s holdings in Costco Wholesale were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Lenox Wealth Management Inc. lifted its holdings in shares of Costco Wholesale by 125.9% in the fourth quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Csenge Advisory Group bought a new stake in shares of Costco Wholesale in the third quarter valued at about $29,000. ERTS Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $30,000. PRW Wealth Management LLC bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $36,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
A number of analysts have recently commented on the company. Nomura assumed coverage on Costco Wholesale in a report on Wednesday, March 20th. They issued a “neutral” rating and a $230.00 price target on the stock. Barclays restated a “hold” rating and issued a $225.00 price target on shares of Costco Wholesale in a report on Wednesday, January 9th. JPMorgan Chase & Co. boosted their price target on Costco Wholesale to $248.00 and gave the company an “overweight” rating in a report on Friday, March 8th. Deutsche Bank set a $225.00 price target on Costco Wholesale and gave the company a “hold” rating in a report on Friday, March 8th. Finally, Robert W. Baird lifted their target price on Costco Wholesale from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $248.95.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.34. The firm had revenue of $35.40 billion for the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same period last year, the firm earned $1.59 EPS. As a group, equities analysts predict that Costco Wholesale Co. will post 7.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, May 9th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s payout ratio is 33.38%.
Costco Wholesale declared that its Board of Directors has authorized a share repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Costco Wholesale news, Director Susan L. Decker sold 2,049 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the transaction, the director now owns 48,589 shares of the company’s stock, valued at $11,272,648. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Richard A. Galanti sold 4,188 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total value of $965,208.36. Following the transaction, the vice president now directly owns 30,082 shares in the company, valued at approximately $6,932,998.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,587 shares of company stock worth $2,004,576. Company insiders own 0.21% of the company’s stock.
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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