MRA Associates USA LLC bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 168 shares of the retailer’s stock, valued at approximately $44,000.
Several other institutional investors have also made changes to their positions in the company. BKD Wealth Advisors LLC grew its stake in Costco Wholesale by 2.6% in the second quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock worth $405,000 after purchasing an additional 39 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in Costco Wholesale by 0.3% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 14,527 shares of the retailer’s stock worth $3,839,000 after acquiring an additional 40 shares during the last quarter. Kistler Tiffany Companies LLC lifted its holdings in Costco Wholesale by 1.5% in the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after acquiring an additional 41 shares during the last quarter. Canton Hathaway LLC lifted its holdings in Costco Wholesale by 41.0% in the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after acquiring an additional 41 shares during the last quarter. Finally, Nichols & Pratt Advisers LLP MA lifted its holdings in Costco Wholesale by 0.9% in the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock worth $1,215,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.
In related news, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the transaction, the director now owns 41,803 shares in the company, valued at $11,213,654.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the transaction, the vice president now owns 66,479 shares in the company, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. Insiders have sold 28,136 shares of company stock worth $7,380,374 in the last quarter. Company insiders own 0.21% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion for the quarter, compared to analysts’ expectations of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 earnings per share. Equities research analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current year.
Costco Wholesale declared that its board has approved a share buyback plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.94%. Costco Wholesale’s dividend payout ratio (DPR) is presently 38.07%.
A number of equities analysts have issued reports on COST shares. Oppenheimer raised their target price on shares of Costco Wholesale from $270.00 to $295.00 in a report on Wednesday, July 10th. BMO Capital Markets set a $275.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Friday, May 31st. Goldman Sachs Group started coverage on shares of Costco Wholesale in a report on Thursday, July 11th. They issued a “buy” rating and a $290.00 target price on the stock. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 17th. Finally, Morgan Stanley raised their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $266.04.
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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