Bard Financial Services Inc. purchased a new position in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,655 shares of the retailer’s stock, valued at approximately $2,884,000.
Other hedge funds have also recently modified their holdings of the company. Charter Oak Capital Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $32,000. Bellwether Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $37,000. DB Wealth Management Group LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $38,000. Key Financial Inc purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $41,000. Finally, Reby Advisors LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $43,000. 67.21% of the stock is currently owned by institutional investors.
In related news, Director Susan L. Decker sold 694 shares of the firm’s stock in a transaction that occurred on Wednesday, January 27th. The stock was sold at an average price of $363.35, for a total transaction of $252,164.90. Following the completion of the sale, the director now directly owns 19,047 shares of the company’s stock, valued at approximately $6,920,727.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roland Michael Vachris sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $334.30, for a total value of $1,437,490.00. Following the sale, the vice president now directly owns 15,602 shares of the company’s stock, valued at $5,215,748.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,208 shares of company stock valued at $5,433,062. Company insiders own 0.22% of the company’s stock.
NASDAQ COST opened at $358.81 on Thursday. The stock has a market capitalization of $158.79 billion, a PE ratio of 36.84, a P/E/G ratio of 4.17 and a beta of 0.66. The business has a 50 day simple moving average of $338.71 and a two-hundred day simple moving average of $360.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.53. Costco Wholesale Co. has a 1-year low of $293.84 and a 1-year high of $393.15.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Wednesday, March 3rd. The retailer reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.31). The firm had revenue of $44.77 billion for the quarter, compared to analysts’ expectations of $43.71 billion. Costco Wholesale had a net margin of 2.50% and a return on equity of 24.50%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. On average, analysts anticipate that Costco Wholesale Co. will post 9.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Friday, February 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, February 4th. Costco Wholesale’s dividend payout ratio (DPR) is 31.64%.
COST has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on Costco Wholesale from $385.00 to $430.00 and gave the stock an “outperform” rating in a research note on Friday, December 11th. Citigroup cut their target price on Costco Wholesale from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday, March 11th. Morgan Stanley increased their target price on Costco Wholesale from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, December 14th. Robert W. Baird cut their target price on Costco Wholesale from $410.00 to $395.00 and set an “outperform” rating on the stock in a research note on Thursday, March 11th. Finally, Telsey Advisory Group cut their target price on Costco Wholesale from $430.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, March 5th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $382.42.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
Further Reading: Outstanding Shares and The Effect on Share Price
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