Cigna Investments Inc. New raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 30.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,280 shares of the retailer’s stock after buying an additional 3,522 shares during the quarter. Cigna Investments Inc. New’s holdings in Costco Wholesale were worth $4,357,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Your Advocates Ltd. LLP purchased a new stake in Costco Wholesale in the 1st quarter valued at $28,000. Sageworth Trust Co purchased a new position in shares of Costco Wholesale during the 4th quarter worth $29,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Costco Wholesale during the 4th quarter worth $29,000. Tobias Financial Advisors Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter worth $29,000. Finally, Key Financial Inc purchased a new position in shares of Costco Wholesale during the 1st quarter worth $32,000. Institutional investors own 69.20% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Costco Wholesale from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Wolfe Research assumed coverage on Costco Wholesale in a report on Tuesday, March 31st. They set a “market perform” rating for the company. Cowen reiterated a “buy” rating and set a $350.00 price target on shares of Costco Wholesale in a report on Friday, March 6th. Cleveland Research raised Costco Wholesale from a “neutral” rating to a “buy” rating in a research note on Monday, March 2nd. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Costco Wholesale in a research note on Monday, March 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $318.54.
COST stock traded up $0.46 during mid-day trading on Friday, reaching $302.43. The company had a trading volume of 2,313,687 shares, compared to its average volume of 2,861,295. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.52 and a current ratio of 1.04. The company has a market capitalization of $133.34 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 4.21 and a beta of 0.71. The firm has a fifty day simple moving average of $304.26 and a 200 day simple moving average of $301.92. Costco Wholesale Co. has a fifty-two week low of $233.05 and a fifty-two week high of $325.26.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 5th. The retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.04. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.39%. The business had revenue of $39.10 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the company earned $2.01 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Co. will post 8.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, April 30th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.65. Costco Wholesale’s dividend payout ratio (DPR) is 34.19%.
In other news, Director Susan L. Decker sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $314.83, for a total transaction of $314,830.00. Following the sale, the director now owns 32,582 shares of the company’s stock, valued at approximately $10,257,791.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 1,448 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $306.51, for a total value of $443,826.48. Following the sale, the chief financial officer now directly owns 23,967 shares in the company, valued at approximately $7,346,125.17. The disclosure for this sale can be found here. Insiders have sold a total of 7,448 shares of company stock worth $2,308,656 in the last three months. Corporate insiders own 0.22% 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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