Public Employees Retirement Association of Colorado reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 848,008 shares of the retailer’s stock after selling 21,478 shares during the quarter. Costco Wholesale makes up 1.4% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 10th largest position. Public Employees Retirement Association of Colorado owned 0.19% of Costco Wholesale worth $224,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Horan Capital Advisors LLC. acquired a new position in Costco Wholesale during the 1st quarter valued at about $26,000. Arbor Wealth Management LLC acquired a new position in shares of Costco Wholesale in the fourth quarter valued at about $33,000. Thor Advisors LLC acquired a new position in shares of Costco Wholesale in the first quarter valued at about $35,000. C J Advisory Inc acquired a new position in shares of Costco Wholesale in the first quarter valued at about $36,000. Finally, JNBA Financial Advisors increased its holdings in shares of Costco Wholesale by 484.6% in the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.
A number of brokerages have recently weighed in on COST. Morgan Stanley increased their price objective on Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, June 3rd. Wells Fargo & Co increased their price objective on Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. They noted that the move was a valuation call. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a report on Tuesday, June 11th. Finally, Oppenheimer increased their price objective on Costco Wholesale from $270.00 to $295.00 in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Costco Wholesale currently has an average rating of “Buy” and a consensus target price of $263.77.
COST stock traded up $4.84 during mid-day trading on Tuesday, reaching $276.15. 62,909 shares of the company’s stock were exchanged, compared to its average volume of 1,782,953. The firm has a market capitalization of $120.48 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. The firm has a 50 day moving average of $273.82. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $284.31.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. The company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. Costco Wholesale’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. Analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current year.
Costco Wholesale declared that its board has authorized a stock repurchase plan on Friday, April 26th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the retailer to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Costco Wholesale Company 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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