InterOcean Capital LLC purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, HoldingsChannel.com reports. The fund purchased 871 shares of the retailer’s stock, valued at approximately $205,000.
Other hedge funds have also recently made changes to their positions in the company. Lee Financial Co increased its holdings in Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock worth $130,000 after purchasing an additional 216 shares in the last quarter. Joel Isaacson & Co. LLC increased its holdings in Costco Wholesale by 14.0% in the third quarter. Joel Isaacson & Co. LLC now owns 1,787 shares of the retailer’s stock worth $420,000 after purchasing an additional 220 shares in the last quarter. Telemus Capital LLC increased its holdings in Costco Wholesale by 6.8% in the third quarter. Telemus Capital LLC now owns 3,499 shares of the retailer’s stock worth $822,000 after purchasing an additional 224 shares in the last quarter. Cypress Capital Management LLC WY increased its holdings in shares of Costco Wholesale by 8.0% during the second quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after acquiring an additional 225 shares in the last quarter. Finally, Northstar Asset Management LLC increased its holdings in shares of Costco Wholesale by 16.6% during the third quarter. Northstar Asset Management LLC now owns 1,586 shares of the retailer’s stock valued at $373,000 after acquiring an additional 226 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ COST opened at $232.08 on Tuesday. Costco Wholesale Co. has a one year low of $175.79 and a one year high of $245.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. The firm has a market cap of $101.35 billion, a PE ratio of 33.98, a PEG ratio of 2.95 and a beta of 0.90.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.98%. Costco Wholesale’s payout ratio is 33.38%.
In related news, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total transaction of $5,029,200.00. Following the sale, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $226.76, for a total value of $5,215,480.00. Following the sale, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,312 shares of company stock worth $13,847,852. 0.58% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on COST shares. Telsey Advisory Group boosted their price objective on Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Loop Capital boosted their price objective on Costco Wholesale to $250.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Cowen restated a “buy” rating and set a $240.00 price objective on shares of Costco Wholesale in a report on Friday, August 10th. Argus set a $255.00 price objective on Costco Wholesale and gave the company a “buy” rating in a report on Tuesday, August 21st. Finally, Oppenheimer boosted their price objective on Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $237.08.
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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.
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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
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