Carret Asset Management LLC Buys 290 Shares of Costco Wholesale Co. (NASDAQ:COST)

Carret Asset Management LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,127 shares of the retailer’s stock after purchasing an additional 290 shares during the period. Carret Asset Management LLC’s holdings in Costco Wholesale were worth $4,680,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COST. BlackRock Inc. raised its position in shares of Costco Wholesale by 3.1% in the 4th quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after acquiring an additional 944,199 shares in the last quarter. State Street Corp grew its stake in shares of Costco Wholesale by 10.2% in the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after buying an additional 1,697,920 shares during the period. Geode Capital Management LLC grew its stake in shares of Costco Wholesale by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after buying an additional 246,857 shares during the period. Alliancebernstein L.P. grew its stake in shares of Costco Wholesale by 2.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after buying an additional 133,943 shares during the period. Finally, Norges Bank acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $2,323,746,000. 67.52% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Claudine Adamo sold 500 shares of the company’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the completion of the transaction, the executive vice president now directly owns 9,939 shares in the company, valued at $5,983,576.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Agnes Wilderotter bought 850 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was bought at an average price of $470.74 per share, with a total value of $400,129.00. Following the completion of the transaction, the director now directly owns 11,295 shares of the company’s stock, valued at approximately $5,317,008.30. The disclosure for this purchase can be found here. Insiders have sold a total of 8,998 shares of company stock valued at $5,278,469 over the last 90 days. Company insiders own 0.22% of the company’s stock.

COST has been the subject of several research reports. Evercore ISI raised their target price on Costco Wholesale from $605.00 to $610.00 in a research note on Thursday, April 7th. Telsey Advisory Group reduced their target price on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Jefferies Financial Group reiterated a “buy” rating and set a $580.00 price target (up previously from $560.00) on shares of Costco Wholesale in a research note on Thursday, June 2nd. Stifel Nicolaus lifted their price target on Costco Wholesale from $555.00 to $565.00 in a research note on Thursday, May 5th. Finally, Robert W. Baird cut their price target on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $569.56.

Shares of COST stock opened at $459.96 on Thursday. The company’s fifty day simple moving average is $496.50 and its two-hundred day simple moving average is $522.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. Costco Wholesale Co. has a 1 year low of $390.59 and a 1 year high of $612.27. The stock has a market capitalization of $203.74 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 3.87 and a beta of 0.71.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its earnings results on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The business had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Co. will post 13.02 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were given a dividend of $0.90 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, April 28th. Costco Wholesale’s payout ratio is 28.35%.

About Costco Wholesale (Get Rating)

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

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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