Oppenheimer Asset Management Inc. boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,637 shares of the retailer’s stock after buying an additional 482 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Costco Wholesale were worth $5,240,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Country Club Trust Company n.a. lifted its holdings in shares of Costco Wholesale by 8.0% in the fourth quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock worth $1,336,000 after acquiring an additional 484 shares during the last quarter. Regent Investment Management LLC lifted its holdings in shares of Costco Wholesale by 43.5% in the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock worth $360,000 after acquiring an additional 450 shares during the last quarter. Bernicke Wealth Management Ltd. lifted its holdings in shares of Costco Wholesale by 3.3% in the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock worth $818,000 after acquiring an additional 127 shares during the last quarter. Ruggie Capital Group bought a new position in shares of Costco Wholesale in the fourth quarter worth about $61,000. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in shares of Costco Wholesale by 80.1% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock worth $3,133,000 after acquiring an additional 6,839 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
COST has been the subject of a number of research reports. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Citigroup raised their price objective on shares of Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Loop Capital raised their price objective on shares of Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group raised their price objective on shares of Costco Wholesale to $280.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Nomura raised their price objective on shares of Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $249.90.
Costco Wholesale stock opened at $243.47 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.46. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $248.70. The company has a market cap of $107.10 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 3.46 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.34. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. The firm had revenue of $35.40 billion during the quarter. During the same quarter in the previous year, the business posted $1.59 EPS. Analysts forecast that Costco Wholesale Co. will post 7.9 earnings per share for the current year.
The company also recently declared 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 is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
Costco Wholesale announced that its Board of Directors has approved a stock repurchase program on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
About Costco Wholesale
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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