Foundry Partners LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 806 shares of the retailer’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Horan Capital Advisors LLC. purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $26,000. Canton Hathaway LLC raised its holdings in shares of Costco Wholesale by 41.0% in the 2nd quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after buying an additional 41 shares during the period. Thor Advisors LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $35,000. C J Advisory Inc purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $36,000. Finally, JNBA Financial Advisors raised its holdings in shares of Costco Wholesale by 484.6% in the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after buying an additional 126 shares during the period. 71.20% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on COST. Barclays set a $275.00 price objective on Costco Wholesale and gave the company a “hold” rating in a report on Monday. Stifel Nicolaus boosted their target price on Costco Wholesale from $261.00 to $289.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Oppenheimer boosted their target price on Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday, July 10th. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. Finally, Deutsche Bank set a $252.00 target price on Costco Wholesale and gave the stock a “hold” rating in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $266.04.
Shares of NASDAQ COST opened at $271.52 on Friday. The stock has a market cap of $121.50 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $284.31. The business has a 50-day moving average price of $274.20 and a 200 day moving average price of $247.42.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The firm had revenue of $34.74 billion during 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%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. Sell-side analysts anticipate that Costco Wholesale Co. will post 8.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s dividend payout ratio is presently 38.07%.
Costco Wholesale announced that its Board of Directors has approved a share repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $252.15, for a total value of $504,300.00. Following the completion of the transaction, the vice president now directly owns 66,479 shares of the company’s stock, valued at approximately $16,762,679.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total value of $2,658,500.00. Following the completion of the transaction, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,136 shares of company stock valued at $7,380,374. 0.21% of the stock is owned by company insiders.
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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