Cardano Risk Management B.V. Buys 9,213 Shares of Costco Wholesale Corporation $COST

Key Points

• Cardano Risk Management B.V. increased its stake in Costco by 5.9%, acquiring an additional 9,213 shares, bringing its total holdings to 165,924 shares valued at approximately $164.26 million.
• Costco reported quarterly earnings of $5.87 per share, exceeding analysts' expectations, with revenue increasing by 8.1% year-over-year to $86.16 billion.
• The company declared a quarterly dividend of $1.30, representing an annualized payout of $5.20 and a dividend yield of 0.6%.

Cardano Risk Management B.V. boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,924 shares of the retailer's stock after acquiring an additional 9,213 shares during the quarter. Costco Wholesale makes up approximately 2.1% of Cardano Risk Management B.V.'s holdings, making the stock its 15th biggest holding. Cardano Risk Management B.V.'s holdings in Costco Wholesale were worth $164,255,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. 3Chopt Investment Partners LLC grew its holdings in Costco Wholesale by 1.1% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 1,465 shares of the retailer's stock worth $1,450,000 after acquiring an additional 16 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Costco Wholesale by 1.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,804 shares of the retailer's stock worth $9,705,000 after acquiring an additional 173 shares during the last quarter. WMG Financial Advisors LLC grew its holdings in Costco Wholesale by 13.0% during the 2nd quarter. WMG Financial Advisors LLC now owns 644 shares of the retailer's stock worth $638,000 after acquiring an additional 74 shares during the last quarter. Stiles Financial Services Inc grew its holdings in Costco Wholesale by 1.9% during the 2nd quarter. Stiles Financial Services Inc now owns 8,543 shares of the retailer's stock worth $8,470,000 after acquiring an additional 161 shares during the last quarter. Finally, Coordinated Financial Services Inc. bought a new stake in Costco Wholesale during the 2nd quarter worth about $1,255,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $930.01 on Friday. The company has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a P/E/G ratio of 5.72 and a beta of 0.98. The firm's 50 day simple moving average is $952.05 and its 200 day simple moving average is $971.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. Costco Wholesale's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $5.15 EPS. As a group, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 28.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COST shares. Truist Financial decreased their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a "neutral" rating in a research report on Friday, September 26th. Wolfe Research started coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a "peer perform" rating on the stock. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Finally, Argus upped their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,066.23.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,981 shares of company stock worth $7,588,685. Company insiders own 0.18% of the company's stock.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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