Costco Wholesale Co. (COST) Stake Increased by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,157 shares of the retailer’s stock after acquiring an additional 3,170 shares during the period. Costco Wholesale accounts for 2.5% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Douglass Winthrop Advisors LLC owned about 0.05% of Costco Wholesale worth $56,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in COST. Bogart Wealth LLC boosted its holdings in shares of Costco Wholesale by 26.8% during the 1st quarter. Bogart Wealth LLC now owns 814 shares of the retailer’s stock worth $197,000 after buying an additional 172 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Costco Wholesale by 13.1% during the 1st quarter. Rockland Trust Co. now owns 1,730 shares of the retailer’s stock worth $419,000 after buying an additional 200 shares in the last quarter. Bell Rock Capital LLC boosted its holdings in shares of Costco Wholesale by 1.2% during the 1st quarter. Bell Rock Capital LLC now owns 6,566 shares of the retailer’s stock worth $1,592,000 after buying an additional 79 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its holdings in shares of Costco Wholesale by 0.8% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 25,698 shares of the retailer’s stock worth $6,222,000 after buying an additional 200 shares in the last quarter. Finally, Triangle Securities Wealth Management bought a new position in shares of Costco Wholesale during the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

In other Costco Wholesale news, Director John W. Meisenbach bought 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was purchased at an average cost of $242.65 per share, with a total value of $727,950.00. Following the transaction, the director now directly owns 12,833 shares in the company, valued at approximately $3,113,927.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value of $475,368.00. Following the sale, the director now directly owns 48,589 shares of the company’s stock, valued at $11,272,648. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $2,004,576 over the last three months. 0.21% of the stock is currently owned by insiders.

A number of research firms have issued reports on COST. Telsey Advisory Group restated an “outperform” rating and set a $265.00 price target (up from $250.00) on shares of Costco Wholesale in a report on Tuesday, April 9th. Stifel Nicolaus increased their price target on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Robert W. Baird increased their price target on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer increased their target price on Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Nomura increased their target price on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $249.90.

NASDAQ COST traded up $3.55 on Friday, reaching $247.02. The company had a trading volume of 2,029,022 shares, compared to its average volume of 1,404,551. The firm has a market capitalization of $107.10 billion, a P/E ratio of 36.17, a PEG ratio of 3.44 and a beta of 0.94. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $248.70. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.34. The business 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 period in the previous year, the company posted $1.59 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Co. will post 7.91 EPS for the current fiscal year.

Costco Wholesale announced that its Board of Directors has initiated a stock repurchase plan on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.65 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 9th. Costco Wholesale’s dividend payout ratio is presently 38.07%.

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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.

Further Reading: Derivative

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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