Keystone Investors PTE Ltd. bought a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,615 shares of the retailer's stock, valued at approximately $1,527,000. Costco Wholesale comprises about 0.2% of Keystone Investors PTE Ltd.'s holdings, making the stock its 26th biggest position.
Other hedge funds also recently bought and sold shares of the company. Peninsula Wealth LLC lifted its position in shares of Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after buying an additional 10 shares during the last quarter. Bosun Asset Management LLC raised its stake in shares of Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after buying an additional 10 shares in the last quarter. Corps Capital Advisors LLC grew its stake in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after purchasing an additional 10 shares during the last quarter. NFP Retirement Inc. raised its holdings in Costco Wholesale by 1.1% during the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock worth $898,000 after buying an additional 11 shares during the period. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Costco Wholesale by 0.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.
Costco Wholesale Price Performance
Shares of COST opened at $977.45 on Friday. The stock has a market cap of $433.48 billion, a P/E ratio of 55.44, a price-to-earnings-growth ratio of 6.02 and a beta of 0.96. The stock's 50-day moving average price is $979.28 and its two-hundred day moving average price is $984.62. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 1 year low of $820.45 and a 1 year high of $1,078.23.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the business posted $3.78 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.
Costco Wholesale Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on COST. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. raised their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday. Mizuho initiated coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective on the stock. Loop Capital dropped their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,040.81.
Check Out Our Latest Research Report on Costco Wholesale
Insider Activity at Costco Wholesale
In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% 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 Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,547 shares of company stock worth $9,472,510. Corporate insiders own 0.18% of the company's stock.
Costco Wholesale Company Profile
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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.
Further Reading
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