Procyon Private Wealth Partners LLC Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Procyon Private Wealth Partners LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,522 shares of the retailer’s stock after buying an additional 90 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Costco Wholesale were worth $2,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. purchased a new stake in shares of Costco Wholesale in the second quarter worth approximately $31,000. KB Financial Partners LLC purchased a new position in Costco Wholesale during the 1st quarter worth $35,000. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Costco Wholesale during the 2nd quarter worth $35,000. West Financial Advisors LLC increased its holdings in Costco Wholesale by 100.0% during the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after purchasing an additional 50 shares during the period. Finally, PNC Managed Account Solutions Inc. purchased a new position in Costco Wholesale during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 66.87% of the company’s stock.

Several research analysts have commented on COST shares. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $500.00 to $552.00 and gave the stock an “overweight” rating in a report on Thursday, November 4th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a report on Monday, September 6th. Stifel Nicolaus increased their target price on Costco Wholesale from $475.00 to $515.00 and gave the company a “buy” rating in a research report on Monday, November 1st. Credit Suisse Group increased their target price on Costco Wholesale from $400.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, September 27th. Finally, Evercore ISI increased their target price on Costco Wholesale from $480.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $496.23.

Shares of COST stock opened at $549.73 on Thursday. The firm has a market capitalization of $242.88 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 5.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.52. The business has a fifty day moving average of $481.58 and a 200 day moving average of $438.24. Costco Wholesale Co. has a 1 year low of $307.00 and a 1 year high of $550.83.

Costco Wholesale (NASDAQ:COST) last issued its 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. The company had revenue of $61.44 billion during the quarter, compared to analyst estimates of $61.45 billion. Costco Wholesale had a return on equity of 29.62% and a net margin of 2.56%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $3.13 EPS. As a group, equities research analysts expect that Costco Wholesale Co. will post 12.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were paid a $0.79 dividend. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Costco Wholesale’s dividend payout ratio (DPR) is 28.04%.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s 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.

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

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