OFI Invest Asset Management Has $36.64 Million Position in Costco Wholesale Corporation $COST

Key Points

• OFI Invest Asset Management increased its stake in Costco Wholesale Corporation by 7.6%, owning 37,013 shares valued at approximately $36.64 million as of the latest SEC filing.
• Analysts have a consensus rating of "Moderate Buy" for Costco stock, with a price target averaging $1,066.23, and 19 analysts have given it a Buy rating.
• Costco reported quarterly earnings of $5.87 per share, exceeding expectations, with a revenue of $86.16 billion, a year-over-year increase of 8.1%.

OFI Invest Asset Management raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,013 shares of the retailer's stock after acquiring an additional 2,628 shares during the quarter. OFI Invest Asset Management's holdings in Costco Wholesale were worth $36,641,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bulwark Capital Corp bought a new position in shares of Costco Wholesale during the second quarter valued at $25,000. Anderson Financial Strategies LLC lifted its holdings in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after acquiring an additional 36 shares during the period. Financial Connections Group Inc. lifted its holdings in shares of Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after acquiring an additional 39 shares during the period. eCIO Inc. bought a new position in shares of Costco Wholesale during the first quarter valued at $48,000. Finally, Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the period. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COST shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Costco Wholesale in a report on Wednesday, October 8th. Oppenheimer reissued an "outperform" rating and set a $1,130.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the company a "neutral" rating in a report on Friday, September 26th. JPMorgan Chase & Co. cut their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a report on Friday, September 26th. Finally, Mizuho cut their price target on Costco Wholesale from $975.00 to $950.00 and set a "neutral" rating for the company in a report on Thursday. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,066.23.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of the business'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 completion of the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $930.01 on Monday. The stock has a market capitalization of $412.16 billion, a P/E ratio of 51.07, a P/E/G ratio of 5.64 and a beta of 0.98. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $952.05 and a two-hundred day moving average price of $972.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.15 EPS. Equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's payout ratio is currently 28.56%.

Costco Wholesale Company Profile

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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