Davis R M Inc. increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,002 shares of the retailer’s stock after purchasing an additional 688 shares during the quarter. Davis R M Inc.’s holdings in Costco Wholesale were worth $28,815,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of Costco Wholesale by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after purchasing an additional 158,722 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Costco Wholesale by 20,897.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock worth $165,000 after purchasing an additional 33,492,419 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Costco Wholesale by 2.6% in the 4th quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock worth $5,862,398,000 after purchasing an additional 736,711 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Costco Wholesale by 1.1% in the 4th quarter. Jennison Associates LLC now owns 6,452,240 shares of the retailer’s stock worth $1,314,386,000 after purchasing an additional 67,206 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Costco Wholesale by 3.4% in the 4th quarter. Northern Trust Corp now owns 6,230,704 shares of the retailer’s stock worth $1,269,257,000 after purchasing an additional 202,554 shares in the last quarter. Institutional investors own 72.22% of the company’s stock.
A number of equities analysts have recently issued reports on COST shares. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a report on Monday, March 11th. Bank of America set a $255.00 price objective on Costco Wholesale and gave the stock a “buy” rating in a report on Friday, March 8th. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Friday, January 25th. UBS Group upped their price objective on Costco Wholesale to $280.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Loop Capital upped their price objective on Costco Wholesale from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $249.90.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The company had revenue of $35.40 billion during the quarter. During the same period last year, the firm posted $1.59 EPS. Equities research analysts forecast that Costco Wholesale Co. will post 7.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s payout ratio is 38.07%.
Costco Wholesale declared that its board has approved a share repurchase plan on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Costco Wholesale news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total transaction of $965,208.36. Following the completion of the transaction, the vice president now owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Meisenbach purchased 3,000 shares of the stock in a transaction on Monday, April 1st. The shares were acquired at an average cost of $242.65 per share, with a total value of $727,950.00. Following the transaction, the director now directly owns 12,833 shares in the company, valued at $3,113,927.45. The disclosure for this purchase can be found here. In the last three months, insiders sold 8,587 shares of company stock valued at $2,004,576. 0.21% of the stock is currently owned by corporate insiders.
Costco Wholesale Company 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.
See Also: Net Income
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