Costco Wholesale Corporation $COST Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management raised its stake in Costco by 3.7% to 74,613 shares (about $64.34 million), making COST roughly 0.7% of QRG’s portfolio and its 19th-largest holding, while institutional investors own 68.48% of the stock.
• Costco beat quarterly expectations with $4.58 EPS versus $4.55 and reported revenue of $69.60 billion (up 9.2% YoY); the company has a $449.3 billion market cap and a P/E of 52.7.
• Costco raised its quarterly dividend to $1.47 (from $1.30), implying a $5.88 annualized payout and a 0.6% yield, and analysts rate the stock a Moderate Buy with an average price target near $1,046.

QRG Capital Management Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,613 shares of the retailer's stock after buying an additional 2,677 shares during the quarter. Costco Wholesale comprises about 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 $64,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of COST. Brighton Jones LLC lifted its position in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after buying an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Costco Wholesale by 4.5% in the second quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer's stock valued at $3,814,000 after buying an additional 165 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Costco Wholesale by 1.1% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer's stock valued at $2,089,000 after buying an additional 23 shares during the last quarter. Finally, Schnieders Capital Management LLC. lifted its position in Costco Wholesale by 2.2% in the second quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer's stock valued at $8,416,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $1,012.79 on Tuesday. The firm has a market capitalization of $449.32 billion, a P/E ratio of 52.67, a P/E/G ratio of 4.98 and a beta of 0.92. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,067.08. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $996.93 and its two-hundred day moving average is $950.04.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The retailer reported $4.58 EPS for the quarter, beating the consensus estimate of $4.55 by $0.03. The company had revenue of $69.60 billion for the quarter, compared to analyst estimates of $68.96 billion. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The firm's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.02 earnings per share. Research analysts forecast that Costco Wholesale Corporation will post 20.32 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $1.47 dividend. This is an increase from Costco Wholesale's previous quarterly dividend of $1.30. This represents a $5.88 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 1st. Costco Wholesale's payout ratio is currently 30.58%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $1,125.00 to $1,135.00 and gave the company an "outperform" rating in a research report on Thursday, April 9th. Evercore set a $1,100.00 target price on shares of Costco Wholesale in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Costco Wholesale from $1,103.00 to $1,104.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Bank of America began coverage on shares of Costco Wholesale in a research report on Friday, February 27th. They issued a "buy" rating and a $1,185.00 target price on the stock. Finally, Gordon Haskett increased their price target on shares of Costco Wholesale from $1,000.00 to $1,100.00 in a research report on Tuesday, February 3rd. Twenty-two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,045.97.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 730 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $1,003.02, for a total value of $732,204.60. Following the transaction, the executive vice president directly owned 6,121 shares in the company, valued at $6,139,485.42. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company's product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco's business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

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