Country Club Trust Company n.a. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,745 shares of the retailer’s stock after buying an additional 520 shares during the period. Country Club Trust Company n.a.’s holdings in Costco Wholesale were worth $2,335,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP purchased a new stake in shares of Costco Wholesale in the first quarter valued at approximately $28,000. Beutel Goodman & Co Ltd. purchased a new stake in Costco Wholesale during the fourth quarter worth $29,000. Fortis Advisors LLC lifted its holdings in Costco Wholesale by 98.1% during the first quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after buying an additional 51 shares during the period. Key Financial Inc purchased a new stake in Costco Wholesale during the first quarter worth $32,000. Finally, Cox Capital Mgt LLC purchased a new stake in Costco Wholesale during the first quarter worth $34,000. 68.79% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on COST shares. Morgan Stanley increased their price objective on Costco Wholesale from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Loop Capital increased their price objective on Costco Wholesale from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, July 9th. They noted that the move was a valuation call. TheStreet upgraded Costco Wholesale from a “c” rating to a “b-” rating in a report on Monday, June 1st. Deutsche Bank upped their target price on Costco Wholesale from $297.00 to $298.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Finally, Wolfe Research initiated coverage on Costco Wholesale in a research report on Tuesday, March 31st. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $326.70.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $1.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.03). Costco Wholesale had a net margin of 2.31% and a return on equity of 22.60%. The firm had revenue of $36.45 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Costco Wholesale Co. will post 8.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, July 30th. Costco Wholesale’s payout ratio is currently 34.19%.
In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total value of $1,550,000.00. Following the completion of the sale, the vice president now directly owns 42,771 shares in the company, valued at approximately $13,259,010. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 1,995 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $312.00, for a total value of $622,440.00. Following the completion of the sale, the director now owns 30,587 shares of the company’s stock, valued at $9,543,144. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,380 shares of company stock valued at $11,064,249. 0.22% of the stock is owned by company 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.
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