Hudson Valley Investment Advisors Inc. ADV boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 86.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,583 shares of the retailer’s stock after acquiring an additional 1,197 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Costco Wholesale were worth $683,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $868,633,000. Thoroughbred Financial Services LLC lifted its holdings in shares of Costco Wholesale by 31,276.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock worth $84,371,000 after acquiring an additional 841,019 shares during the period. Ellis Investment Partners LLC lifted its holdings in shares of Costco Wholesale by 24,131.7% during the 1st quarter. Ellis Investment Partners LLC now owns 610,154 shares of the retailer’s stock worth $610,000 after acquiring an additional 607,636 shares during the period. FMR LLC increased its position in Costco Wholesale by 5.0% during the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock worth $2,645,326,000 after purchasing an additional 518,843 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Costco Wholesale by 120.7% during the 4th quarter. Two Sigma Advisers LP now owns 754,195 shares of the retailer’s stock worth $153,637,000 after purchasing an additional 412,400 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. BMO Capital Markets set a $275.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, May 31st. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a research report on Tuesday, June 11th. Morgan Stanley upped their price target on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. Finally, Goldman Sachs Group started coverage on shares of Costco Wholesale in a research report on Thursday, July 11th. They issued a “buy” rating and a $290.00 price target for the company. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $266.04.
In other Costco Wholesale news, VP Patrick J. Callans sold 2,000 shares of the business’s stock in a transaction 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 directly owns 66,479 shares of the company’s stock, valued at approximately $16,762,679.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 2,790 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $254.62, for a total transaction of $710,389.80. Following the completion of the sale, the director now directly owns 45,405 shares in the company, valued at $11,561,021.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by insiders.
COST opened at $271.52 on Friday. The firm has a market capitalization of $121.50 billion, a P/E ratio of 39.75, a PEG ratio of 3.87 and a beta of 0.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The company’s 50-day moving average is $274.20 and its 200 day moving average is $247.42. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $284.31.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.06. The firm had revenue of $34.74 billion during the quarter, compared to analyst estimates of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.70 EPS. On average, equities research analysts expect that Costco Wholesale Co. will post 8.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s payout ratio is 38.07%.
Costco Wholesale announced that its board has initiated a stock buyback program on Friday, April 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the retailer to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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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