Concentric Wealth Management LLC cut its position in Costco Wholesale Co. (NASDAQ:COST) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,495 shares of the retailer’s stock after selling 320 shares during the quarter. Concentric Wealth Management LLC’s holdings in Costco Wholesale were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. MUFG Securities EMEA plc purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $103,000. Parkside Investments LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $119,000. Lee Financial Co raised its position in shares of Costco Wholesale by 63.7% during the 3rd quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after buying an additional 216 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Costco Wholesale by 180.0% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.
Several analysts have recently weighed in on COST shares. Telsey Advisory Group raised their price objective on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, August 7th. Loop Capital raised their price objective on shares of Costco Wholesale to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Cowen restated a “buy” rating and set a $240.00 price objective on shares of Costco Wholesale in a research report on Friday, August 10th. Argus set a $255.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Tuesday, August 21st. Finally, Oppenheimer raised their price objective on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $237.94.
COST stock opened at $231.28 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. Costco Wholesale Co. has a 52 week low of $173.54 and a 52 week high of $245.16. The firm has a market cap of $101.35 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. During the same quarter last year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Costco Wholesale Co. will post 7.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 8th. Costco Wholesale’s dividend payout ratio is currently 33.38%.
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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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