Monetary Management Group Inc. lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 14.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,455 shares of the retailer’s stock after purchasing an additional 830 shares during the period. Monetary Management Group Inc.’s holdings in Costco Wholesale were worth $2,554,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ironwood Wealth Management LLC. lifted its holdings in shares of Costco Wholesale by 18.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 3,283 shares of the retailer’s stock valued at $1,157,000 after purchasing an additional 506 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Costco Wholesale by 20.6% in the 1st quarter. Rafferty Asset Management LLC now owns 13,210 shares of the retailer’s stock valued at $4,656,000 after acquiring an additional 2,258 shares during the period. Certified Advisory Corp acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $2,137,000. Parkside Financial Bank & Trust increased its position in shares of Costco Wholesale by 7.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,094 shares of the retailer’s stock valued at $386,000 after acquiring an additional 77 shares during the period. Finally, Rossmore Private Capital increased its position in shares of Costco Wholesale by 1.1% in the 1st quarter. Rossmore Private Capital now owns 6,090 shares of the retailer’s stock valued at $2,147,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 66.96% of the company’s stock.
COST has been the topic of several research reports. Raymond James upped their target price on Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a research report on Friday. Oppenheimer reaffirmed a “buy” rating and set a $500.00 price target on shares of Costco Wholesale in a research report on Friday, September 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Costco Wholesale from $399.00 to $424.00 and gave the stock a “hold” rating in a research note on Friday. Telsey Advisory Group increased their target price on shares of Costco Wholesale from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price target on shares of Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $452.59.
Shares of NASDAQ COST traded down $8.95 during midday trading on Monday, reaching $458.80. 90,530 shares of the stock were exchanged, compared to its average volume of 2,263,363. The company has a 50 day simple moving average of $446.49 and a 200 day simple moving average of $400.08. The stock has a market capitalization of $202.82 billion, a P/E ratio of 43.96, a PEG ratio of 4.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.50 and a current ratio of 1.00. Costco Wholesale Co. has a twelve month low of $307.00 and a twelve month high of $469.77.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The business had revenue of $61.44 billion during the quarter, compared to the consensus estimate of $61.45 billion. During the same quarter last year, the firm earned $3.13 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Co. will post 10.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a $0.79 dividend. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $3.16 annualized dividend and a yield of 0.69%. Costco Wholesale’s dividend payout ratio (DPR) is presently 35.71%.
About Costco Wholesale
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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