InterOcean Capital LLC grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,288 shares of the retailer’s stock after buying an additional 328 shares during the quarter. InterOcean Capital LLC’s holdings in Costco Wholesale were worth $367,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Bluefin Trading LLC bought a new stake in Costco Wholesale in the fourth quarter valued at about $3,440,000. Arrow Financial Corp grew its position in shares of Costco Wholesale by 3.0% in the 4th quarter. Arrow Financial Corp now owns 10,631 shares of the retailer’s stock worth $3,125,000 after acquiring an additional 305 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its position in shares of Costco Wholesale by 18.2% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 16,458 shares of the retailer’s stock worth $4,837,000 after acquiring an additional 2,538 shares in the last quarter. Alhambra Investment Partners LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $1,039,000. Finally, Solstein Capital LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $327,000. 69.20% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on COST shares. Royal Bank of Canada boosted their target price on shares of Costco Wholesale from $343.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Morgan Stanley lowered their price objective on shares of Costco Wholesale from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Robert W. Baird reiterated a “buy” rating and set a $335.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 9th. BidaskClub downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Argus increased their price target on Costco Wholesale from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $318.54.
In other Costco Wholesale news, Director Susan L. Decker sold 1,000 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $314.83, for a total value of $314,830.00. Following the sale, the director now directly owns 32,582 shares in the company, valued at $10,257,791.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 1,448 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $306.51, for a total transaction of $443,826.48. Following the completion of the sale, the chief financial officer now directly owns 23,967 shares of the company’s stock, valued at $7,346,125.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,448 shares of company stock valued at $2,308,656. Insiders own 0.22% of the company’s stock.
Shares of COST stock traded up $0.46 during midday trading on Friday, reaching $302.43. 2,313,687 shares of the company were exchanged, compared to its average volume of 2,861,295. The company’s 50 day moving average price is $304.26 and its two-hundred day moving average price is $301.92. The company has a market cap of $133.34 billion, a P/E ratio of 35.50, a PEG ratio of 4.21 and a beta of 0.71. Costco Wholesale Co. has a 12 month low of $233.05 and a 12 month high of $325.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.52 and a current ratio of 1.04.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 5th. The retailer reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.04. The firm had revenue of $39.10 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.39%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Co. will post 8.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.65. Costco Wholesale’s payout ratio is currently 34.19%.
About Costco Wholesale
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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