Concurrent Investment Advisors LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,292 shares of the retailer's stock after acquiring an additional 4,257 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Costco Wholesale were worth $19,098,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Bulwark Capital Corp acquired a new position in Costco Wholesale during the second quarter worth $25,000. Anderson Financial Strategies LLC increased its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares during the last quarter. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock worth $42,000 after buying an additional 39 shares during the last quarter. eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth $48,000. Finally, Aspect Partners LLC increased its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors.
Insider Activity at Costco Wholesale
In related news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares of the company's stock, valued at $8,912,100. This represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,981 shares of company stock worth $7,588,685. Corporate insiders own 0.18% of the company's stock.
Costco Wholesale Trading Down 1.4%
COST stock opened at $930.01 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company's 50-day simple moving average is $952.05 and its 200 day simple moving average is $971.77. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a market capitalization of $412.16 billion, a PE ratio of 51.07, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the company posted $5.15 earnings per share. Costco Wholesale's revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.
Costco Wholesale Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is 28.56%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Sanford C. Bernstein increased their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Argus increased their price objective 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. Morgan Stanley dropped their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Finally, Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the company a "neutral" rating in a research report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,066.23.
Check Out Our Latest Report on COST
Costco Wholesale Company Profile
(
Free Report)
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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