Wright Investors Service Inc. grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,677 shares of the retailer’s stock after buying an additional 67 shares during the period. Wright Investors Service Inc.’s holdings in Costco Wholesale were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Costco Wholesale by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,369,376 shares of the retailer’s stock valued at $278,949,000 after purchasing an additional 25,745 shares during the last quarter. Geode Capital Management LLC grew its position in Costco Wholesale by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock valued at $1,227,757,000 after acquiring an additional 386,144 shares during the last quarter. Norman Fields Gottscho Capital Management LLC grew its position in Costco Wholesale by 7.9% in the 1st quarter. Norman Fields Gottscho Capital Management LLC now owns 64,924 shares of the retailer’s stock valued at $15,721,000 after acquiring an additional 4,739 shares during the last quarter. Northstar Investment Advisors LLC grew its position in Costco Wholesale by 15.5% in the 1st quarter. Northstar Investment Advisors LLC now owns 2,418 shares of the retailer’s stock valued at $585,000 after acquiring an additional 325 shares during the last quarter. Finally, Intl Fcstone Inc. grew its position in Costco Wholesale by 3.7% in the 1st quarter. Intl Fcstone Inc. now owns 1,302 shares of the retailer’s stock valued at $315,000 after acquiring an additional 47 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.
Shares of NASDAQ COST traded up $2.55 during mid-day trading on Thursday, reaching $270.70. 65,217 shares of the company were exchanged, compared to its average volume of 1,786,482. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $119.32 billion, a PE ratio of 39.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.95. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $284.31. The business has a 50-day simple moving average of $274.09.
Costco Wholesale announced that its board has approved a share repurchase plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s dividend payout ratio (DPR) is presently 38.07%.
In other Costco Wholesale news, Director Susan L. Decker sold 2,790 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the sale, the director now directly owns 45,405 shares in the company, valued at $11,561,021.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan L. Decker sold 1,646 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the completion of the sale, the director now owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,136 shares of company stock valued at $7,380,374. 0.21% of the stock is currently owned by company insiders.
Several brokerages have commented on COST. Deutsche Bank set a $252.00 price objective on Costco Wholesale and gave the company a “hold” rating in a research report on Monday, July 15th. Barclays set a $275.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research report on Monday. Goldman Sachs Group began coverage on Costco Wholesale in a research report on Thursday, July 11th. They set a “buy” rating and a $290.00 price target on the stock. Raymond James increased their price target on Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Nomura increased their price target on Costco Wholesale from $235.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Buy” and a consensus target price of $266.04.
About Costco Wholesale
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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