Ladenburg Thalmann Financial Services Inc. boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,149 shares of the retailer’s stock after purchasing an additional 4,224 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Costco Wholesale were worth $24,509,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Assetmark Inc. raised its holdings in shares of Costco Wholesale by 137.0% during the 4th quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock valued at $105,000 after buying an additional 326 shares in the last quarter. Well Done LLC purchased a new position in shares of Costco Wholesale during the 1st quarter valued at about $109,000. Smart Portfolios LLC purchased a new position in shares of Costco Wholesale during the 1st quarter valued at about $113,000. American Beacon Advisors Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $120,000. Finally, Trustcore Financial Services LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at about $128,000. Institutional investors and hedge funds own 71.44% of the company’s stock.
Shares of COST stock opened at $204.88 on Wednesday. The company has a market capitalization of $89.68 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $205.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.02. The firm had revenue of $32.36 billion for the quarter, compared to analyst estimates of $31.89 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $1.40 EPS. research analysts forecast that Costco Wholesale Co. will post 6.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were given a $0.57 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, May 10th. Costco Wholesale’s dividend payout ratio (DPR) is currently 39.18%.
In related news, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $186.91, for a total transaction of $560,730.00. Following the sale, the director now directly owns 8,654 shares in the company, valued at $1,617,519.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Russell D. Miller sold 12,393 shares of Costco Wholesale stock in a transaction that occurred on Thursday, April 19th. The shares were sold at an average price of $194.12, for a total value of $2,405,729.16. Following the sale, the insider now owns 1 shares in the company, valued at $194.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,393 shares of company stock worth $6,355,799. Corporate insiders own 0.58% of the company’s stock.
A number of equities analysts recently weighed in on the company. Susquehanna Bancshares reissued a “positive” rating on shares of Costco Wholesale in a report on Thursday, June 7th. Royal Bank of Canada raised their price objective on Costco Wholesale to $213.00 and gave the company an “outperform” rating in a report on Tuesday, May 29th. Citigroup raised their price objective on Costco Wholesale from $217.00 to $222.00 and gave the company a “buy” rating in a report on Friday, June 1st. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, June 1st. Finally, Telsey Advisory Group raised their price objective on Costco Wholesale from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, June 1st. Eight research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $197.52.
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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