Royal Fund Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 238 shares of the retailer’s stock, valued at approximately $67,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP bought a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $28,000. Sageworth Trust Co bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $29,000. Tobias Financial Advisors Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $29,000. Beutel Goodman & Co Ltd. bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $29,000. Finally, ERTS Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $30,000. 69.20% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ COST opened at $302.43 on Friday. The business has a fifty day simple moving average of $304.26 and a 200 day simple moving average of $301.92. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $133.34 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 4.21 and a beta of 0.71. Costco Wholesale Co. has a one year low of $233.05 and a one year high of $325.26.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 5th. The retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.04. The business had revenue of $39.10 billion during the quarter, compared to analyst estimates of $38.26 billion. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.39%. Costco Wholesale’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 earnings per share. On average, research analysts anticipate that Costco Wholesale Co. will post 8.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors 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%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, April 30th. Costco Wholesale’s dividend payout ratio is presently 34.19%.
In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total transaction of $1,550,000.00. Following the completion of the transaction, the vice president now directly owns 42,771 shares in the company, valued at $13,259,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard A. Galanti sold 1,448 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $306.51, for a total value of $443,826.48. Following the transaction, the chief financial officer now owns 23,967 shares of the company’s stock, valued at $7,346,125.17. The disclosure for this sale can be found here. Insiders sold 7,448 shares of company stock valued at $2,308,656 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.
Several equities research analysts recently commented on COST shares. Citigroup initiated coverage on Costco Wholesale in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $310.00 price target for the company. Loop Capital upped their target price on Costco Wholesale from $350.00 to $355.00 in a research report on Thursday, April 9th. Deutsche Bank decreased their target price on Costco Wholesale from $292.00 to $290.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. UBS Group upped their target price on Costco Wholesale from $335.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Stifel Nicolaus upped their target price on Costco Wholesale from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $318.54.
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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