Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 858,243 shares of the retailer's stock after acquiring an additional 96,035 shares during the period. Costco Wholesale makes up 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio, making the stock its 25th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Costco Wholesale worth $811,740,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter worth $25,000. Aspect Partners LLC lifted its position in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the fourth quarter worth $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the fourth quarter worth $59,000. Finally, Bank & Trust Co lifted its position in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.
Costco Wholesale Price Performance
Shares of Costco Wholesale stock traded up $3.53 during trading on Friday, reaching $980.98. The company's stock had a trading volume of 2,188,224 shares, compared to its average volume of 2,172,175. The stock has a 50-day moving average price of $977.93 and a two-hundred day moving average price of $984.85. 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 one year low of $837.63 and a one year high of $1,078.23. The stock has a market capitalization of $435.05 billion, a P/E ratio of 55.64, a price-to-earnings-growth ratio of 6.08 and a beta of 0.96.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.
Costco Wholesale Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.
Analyst Upgrades and Downgrades
COST has been the subject of several research reports. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Monday. Truist Financial raised their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and an average price target of $1,040.81.
Get Our Latest Stock Report on COST
Insider Transactions at Costco Wholesale
In related news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 in the last three months. Company insiders own 0.18% of the company's stock.
Costco Wholesale 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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