YHB Investment Advisors Inc. decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,924 shares of the retailer’s stock after selling 284 shares during the quarter. Costco Wholesale makes up 2.2% of YHB Investment Advisors Inc.’s portfolio, making the stock its 8th biggest holding. YHB Investment Advisors Inc.’s holdings in Costco Wholesale were worth $14,268,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Horan Capital Advisors LLC. bought a new position in Costco Wholesale in the first quarter valued at about $26,000. Lenox Wealth Management Inc. increased its position in Costco Wholesale by 125.9% in the fourth quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock worth $25,000 after buying an additional 68 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter worth about $30,000. C J Advisory Inc purchased a new stake in Costco Wholesale in the first quarter worth about $36,000. Finally, Arbor Wealth Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth about $33,000. 72.22% of the stock is currently owned by institutional investors.
A number of brokerages have commented on COST. Telsey Advisory Group restated an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Stifel Nicolaus upped their price target on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Robert W. Baird upped their price target on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Oppenheimer upped their price target on Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Nomura upped their price target on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a research 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $249.90.
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 consensus estimate of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The firm had revenue of $35.40 billion during the quarter. During the same quarter in the prior year, the business posted $1.59 EPS. As a group, research analysts anticipate that Costco Wholesale Co. will post 7.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.05%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.
Costco Wholesale declared that its board has authorized a stock repurchase plan on Friday, April 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Richard A. Galanti sold 4,188 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total transaction of $965,208.36. Following the completion of the sale, the vice president now owns 30,082 shares in the company, valued at $6,932,998.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Meisenbach bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were acquired at an average price of $242.65 per share, with a total value of $727,950.00. Following the transaction, the director now directly owns 12,833 shares of the company’s stock, valued at approximately $3,113,927.45. The disclosure for this purchase can be found here. Insiders have sold 8,587 shares of company stock valued at $2,004,576 in the last quarter. 0.21% of the stock is currently owned by company insiders.
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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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