Park Place Capital Corp Has $663,000 Holdings in Costco Wholesale Corporation $COST

Key Points

• Park Place Capital Corp reduced its holdings in Costco Wholesale by 35.7% in the second quarter, now owning 672 shares valued at approximately $663,000.
• Costco reported earnings per share of $5.87 for the most recent quarter, exceeding estimates and marking an 8.1% increase in revenue from the previous year.
• The company's recent quarterly dividend was set at $1.30 per share, with a dividend yield of 0.6% and a payout ratio of 28.56%.

Park Place Capital Corp lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 35.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 672 shares of the retailer's stock after selling 373 shares during the quarter. Park Place Capital Corp's holdings in Costco Wholesale were worth $663,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale in the second quarter valued at approximately $25,000. Anderson Financial Strategies LLC boosted its holdings in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after buying an additional 36 shares during the period. eCIO Inc. acquired a new position in shares of Costco Wholesale in the first quarter valued at approximately $48,000. Aspect Partners LLC boosted its holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Finally, Bank & Trust Co boosted its holdings in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $916.87 on Tuesday. 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 firm's fifty day moving average price is $955.08 and its two-hundred day moving average price is $971.72. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a market capitalization of $406.61 billion, a P/E ratio of 50.35, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

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

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given 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 dividend payout ratio is 28.56%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

COST has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a report on Monday. The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a report on Friday. Argus upped their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, September 24th. Eighteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,072.00.

About Costco Wholesale

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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