Gradient Investments LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 17.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,998 shares of the retailer’s stock after purchasing an additional 1,213 shares during the period. Gradient Investments LLC’s holdings in Costco Wholesale were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in COST. Krane Funds Advisors LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter worth $26,000. Massey Quick Simon & CO. LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at about $27,000. Enterprise Trust & Investment Co increased its position in Costco Wholesale by 171.7% during the 3rd quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock valued at $36,000 after purchasing an additional 79 shares during the period. Princeton Global Asset Management LLC increased its position in Costco Wholesale by 88.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock valued at $35,000 after purchasing an additional 62 shares during the period. Finally, Canton Hathaway LLC increased its position in Costco Wholesale by 41.0% during the 2nd quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after purchasing an additional 41 shares during the period. 71.07% of the stock is owned by hedge funds and other institutional investors.
Shares of COST opened at $298.20 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $307.34. The firm has a 50-day moving average price of $290.11 and a 200 day moving average price of $265.69. The firm has a market capitalization of $128.37 billion, a P/E ratio of 36.41, a P/E/G ratio of 4.00 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same quarter in the prior year, the firm posted $2.36 earnings per share. Costco Wholesale’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Co. will post 8.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s dividend payout ratio is currently 31.75%.
A number of research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Costco Wholesale to $330.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. UBS Group lifted their price objective on shares of Costco Wholesale from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Guggenheim reaffirmed a “hold” rating on shares of Costco Wholesale in a research report on Friday, September 6th. Finally, Deutsche Bank lifted their price objective on shares of Costco Wholesale from $272.00 to $274.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale has an average rating of “Buy” and an average target price of $293.13.
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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