Pacific Center for Financial Services reduced its position in Costco Wholesale Co. (NASDAQ: COST – Get a rating) by 2.7% in the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The institutional investor held 763 shares of the retailer after selling 21 shares during the period. The Pacific Center for Financial Services’ holdings in Costco Wholesale were worth $439,000 when it last filed with the SEC.
A number of other institutional investors also changed their stake in the company. Contravisory Investment Management Inc. acquired a new position in Costco Wholesale during Q1 worth approximately $26,000. Evolution Advisers Inc. acquired a new position in Costco Wholesale stock during the fourth quarter worth $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Costco Wholesale stock in the fourth quarter worth $30,000. Mystic Asset Management Inc. bought a new position in Costco Wholesale stock in the fourth quarter worth $40,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Costco Wholesale during the 1st quarter at a value of $49,000. Hedge funds and other institutional investors own 67.52% of the company’s shares.
Costco Wholesale Price Performance
Shares of NASDAQ: COST opened at $545.75 on Tuesday. The company’s 50-day moving average is $500.96 and its two-hundred-day moving average is $517.82. The company has a market capitalization of $241.75 billion, a P/E ratio of 42.97, a PEG ratio of 4.49 and a beta of 0.69. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt ratio of 0.32. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27.
Costco wholesaler (NASDAQ: COST – Get a rating) last released its quarterly earnings data on Thursday, May 26. The retailer reported earnings per share (EPS) of $3.17 for the quarter, beating analyst consensus estimates of $3.00 by $0.17. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The company posted revenue of $52.60 billion in the quarter, versus analyst estimates of $51.49 billion. During the same period a year earlier, the company posted EPS of $2.75. The company’s revenue for the quarter increased by 18.5% compared to the same quarter last year. Analysts expect Costco Wholesale Co. to post earnings per share of 13.05 for the current year.
Costco Wholesale cuts its dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12. Investors of record on Friday, July 29 received a dividend of $0.09. This represents an annualized dividend of $0.36 and a yield of 0.07%. The ex-dividend date was Thursday, July 28. Costco Wholesale’s payout ratio is currently 28.35%.
Insider Activity at Costco Wholesale
In other Costco Wholesale news, Vice President James P. Murphy sold 2,500 shares of the company in a trade dated Wednesday, June 22. The shares were sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the sale, the vice president now directly owns 37,730 shares of the company, valued at approximately $17,506,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Separately, Vice Chairman James P. Murphy sold 2,500 shares of the company in a trade that took place on Wednesday, June 22. The stock was sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the sale, the vice president now owns 37,730 shares of the company, valued at $17,506,720. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Also, Vice President James P. Murphy sold 1,500 shares in a trade on Wednesday, July 20. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares of the company, valued at $19,027,996. Disclosure of this sale can be found here. Insiders sold 5,300 shares of the company worth $2,609,904 in the past 90 days. Company insiders own 0.22% of the company’s shares.
Analyst upgrades and downgrades
A number of brokerages have commented on COST. Oppenheimer raised his price target on Costco Wholesale shares from $535.00 to $600.00 in a Thursday, Aug. 4, report. Credit Suisse Group lowered its price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a Friday, May 27 research note. Robert W. Baird cut his target price on Costco Wholesale from $600.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 27. BMO Capital Markets reissued a “buy” rating and set a price target of $580.00 on Costco Wholesale shares in a research report on Monday, May 30. Finally, Citigroup raised its price target on Costco Wholesale shares from $510.00 to $545.00 in a Thursday, August 4, report. Four investment analysts gave the stock a hold rating and twenty-two gave the company’s stock a buy rating. Based on MarketBeat data, Costco Wholesale has an average “Moderate Buy” rating and consensus target price of $576.68.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses in the United States, Puerto Rico, Canada, 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.
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