Tower Research Capital LLC TRC lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 604.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,005 shares of the retailer’s stock after purchasing an additional 7,727 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Costco Wholesale were worth $2,595,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of COST. Nuveen Asset Management LLC lifted its stake in shares of Costco Wholesale by 40,778.5% during the second quarter. Nuveen Asset Management LLC now owns 4,772,976 shares of the retailer’s stock worth $1,261,307,000 after buying an additional 4,761,300 shares during the period. Parnassus Investments CA acquired a new position in Costco Wholesale during the second quarter valued at $591,885,000. Thoroughbred Financial Services LLC lifted its position in Costco Wholesale by 31,276.3% during the second quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock valued at $84,371,000 after purchasing an additional 841,019 shares during the period. Nomura Holdings Inc. acquired a new position in Costco Wholesale during the second quarter valued at $159,976,000. Finally, Vanguard Group Inc. lifted its position in Costco Wholesale by 1.4% during the second quarter. Vanguard Group Inc. now owns 37,343,168 shares of the retailer’s stock valued at $9,868,305,000 after purchasing an additional 508,650 shares during the period. Institutional investors and hedge funds own 71.14% of the company’s stock.
A number of research firms recently issued reports on COST. Raymond James boosted their target price on shares of Costco Wholesale from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Loop Capital boosted their target price on shares of Costco Wholesale to $330.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $289.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Sanford C. Bernstein downgraded shares of Costco Wholesale from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $220.00 to $230.00 in a research report on Wednesday, September 18th. Finally, Oppenheimer downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $295.00 to $300.00 in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $295.57.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.15. The business had revenue of $47.50 billion during the quarter, compared to the consensus estimate of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Co. will post 8.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Costco Wholesale’s dividend payout ratio (DPR) is currently 31.75%.
In other Costco Wholesale news, VP Joseph P. Portera sold 14,095 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $299.52, for a total value of $4,221,734.40. Following the completion of the transaction, the vice president now owns 6,211 shares in the company, valued at $1,860,318.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 333 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $297.50, for a total transaction of $99,067.50. Following the completion of the transaction, the director now owns 41,470 shares of the company’s stock, valued at approximately $12,337,325. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,093 shares of company stock valued at $9,915,511. Insiders own 0.21% of the company’s stock.
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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