QRG Capital Management Inc. boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,482 shares of the retailer's stock after purchasing an additional 5,754 shares during the period. Costco Wholesale makes up approximately 0.7% of QRG Capital Management Inc.'s portfolio, making the stock its 19th biggest holding. QRG Capital Management Inc.'s holdings in Costco Wholesale were worth $69,498,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Synergy Investment Management LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $31,000. NewSquare Capital LLC grew its position in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after acquiring an additional 25 shares during the period. Clear Investment Research LLC grew its position in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after acquiring an additional 10 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at about $58,000. 68.48% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This trade represents a 11.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president now owns 8,210 shares of the company's stock, valued at $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,000 shares of company stock valued at $10,825,205. 0.18% of the stock is currently owned by company insiders.
Costco Wholesale Stock Down 0.6%
COST stock opened at $984.36 on Tuesday. The firm has a market cap of $436.54 billion, a PE ratio of 57.80, a PEG ratio of 6.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The firm's 50 day moving average price is $1,001.94 and its 200-day moving average price is $981.18. Costco Wholesale Co. has a one year low of $793.00 and a one year high of $1,078.24.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.78 EPS. On average, equities research analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current year.
Costco Wholesale Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is presently 29.50%.
Wall Street Analysts Forecast Growth
COST has been the topic of a number of analyst reports. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Mizuho initiated coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Finally, Robert W. Baird raised their target price on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,035.32.
Read Our Latest Stock Report on COST
About Costco Wholesale
(
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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