Point72 Asset Management L.P. acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 113,803 shares of the retailer’s stock, valued at approximately $40,113,000.
Several other large investors also recently modified their holdings of COST. Norges Bank acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $1,784,019,000. Morgan Stanley increased its stake in Costco Wholesale by 40.3% in the 4th quarter. Morgan Stanley now owns 7,084,438 shares of the retailer’s stock valued at $2,669,275,000 after buying an additional 2,034,871 shares during the last quarter. BlackRock Inc. increased its stake in Costco Wholesale by 3.6% in the 1st quarter. BlackRock Inc. now owns 29,726,284 shares of the retailer’s stock valued at $10,477,920,000 after buying an additional 1,042,052 shares during the last quarter. Alliancebernstein L.P. increased its stake in Costco Wholesale by 17.2% in the 1st quarter. Alliancebernstein L.P. now owns 4,452,765 shares of the retailer’s stock valued at $1,569,511,000 after buying an additional 652,748 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Costco Wholesale by 149.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,077,210 shares of the retailer’s stock valued at $379,695,000 after buying an additional 645,468 shares during the last quarter. Institutional investors and hedge funds own 65.57% of the company’s stock.
Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Costco Wholesale from $352.00 to $363.00 and gave the company a “hold” rating in a research note on Friday, May 28th. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Wednesday, June 2nd. Oppenheimer lifted their price target on shares of Costco Wholesale from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, July 9th. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. Finally, Raymond James lifted their price objective on shares of Costco Wholesale from $410.00 to $415.00 and gave the company an “outperform” rating in a research report on Friday, May 28th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $407.50.
NASDAQ COST opened at $415.21 on Thursday. The company has a quick ratio of 0.50, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $183.55 billion, a P/E ratio of 39.00, a P/E/G ratio of 4.37 and a beta of 0.66. Costco Wholesale Co. has a 12-month low of $307.00 and a 12-month high of $418.07. The firm has a 50-day simple moving average of $391.55.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Wednesday, May 26th. The retailer reported $2.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.47. The firm had revenue of $44.38 billion during the quarter, compared to the consensus estimate of $43.82 billion. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, research analysts forecast that Costco Wholesale Co. will post 10.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Friday, July 30th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, July 29th. Costco Wholesale’s payout ratio is presently 35.71%.
Costco Wholesale Company Profile
Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.
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