AE Wealth Management LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,865 shares of the retailer’s stock after buying an additional 366 shares during the period. AE Wealth Management LLC’s holdings in Costco Wholesale were worth $1,017,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $103,000. Well Done LLC purchased a new position in Costco Wholesale in the first quarter worth $109,000. Trilogy Capital Inc. purchased a new position in Costco Wholesale in the first quarter worth $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Costco Wholesale in the second quarter worth $119,000. Finally, Zions Bancorporation purchased a new position in Costco Wholesale in the second quarter worth $160,000. Hedge funds and other institutional investors own 71.49% of the company’s stock.
In other news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total transaction of $655,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Murphy sold 15,000 shares of the stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the sale, the vice president now owns 33,834 shares in the company, valued at approximately $7,417,089.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,000 shares of company stock worth $5,351,100. Corporate insiders own 0.58% of the company’s stock.
Shares of NASDAQ COST traded down $12.86 on Friday, reaching $218.82. 7,239,500 shares of the company’s stock traded hands, compared to its average volume of 2,206,402. Costco Wholesale Co. has a 12 month low of $154.11 and a 12 month high of $245.16. The company has a market capitalization of $103.00 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 2.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The business had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Co. will post 6.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, August 30th. Costco Wholesale’s payout ratio is 39.18%.
Several research firms have issued reports on COST. Bank of America set a $255.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Thursday. Loop Capital upped their price target on shares of Costco Wholesale to $230.00 and gave the company a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets cut their price target on shares of Costco Wholesale from $260.00 to $258.00 and set an “outperform” rating for the company in a research report on Friday. Finally, BidaskClub downgraded shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $234.64.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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