Shikiar Asset Management Inc. reduced its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,440 shares of the retailer’s stock after selling 100 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Costco Wholesale were worth $1,981,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in COST. BlackRock Inc. grew its holdings in shares of Costco Wholesale by 3.1% during the 4th quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after purchasing an additional 944,199 shares during the last quarter. State Street Corp grew its holdings in shares of Costco Wholesale by 10.2% during the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after purchasing an additional 1,697,920 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Costco Wholesale by 3.5% during 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 purchasing an additional 246,857 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Costco Wholesale by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after purchasing an additional 133,943 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $2,323,746,000. 67.52% of the stock is currently owned by hedge funds and other institutional investors.
COST has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the company a “buy” rating in a report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Costco Wholesale from $530.00 to $525.00 in a report on Wednesday, May 25th. Raymond James cut their target price on shares of Costco Wholesale from $645.00 to $560.00 in a research report on Tuesday, May 31st. Telsey Advisory Group cut their target price on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Finally, Loop Capital cut their target price on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $569.56.
Costco Wholesale (NASDAQ:COST – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.01. The company had revenue of $52.60 billion during the quarter, compared to analyst estimates of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. Costco Wholesale’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 EPS. On average, analysts anticipate that Costco Wholesale Co. will post 13.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $3.60 annualized dividend and a dividend yield of 0.78%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s payout ratio is currently 28.35%.
In other Costco Wholesale news, EVP Claudine Adamo sold 500 shares of the business’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $602.03, for a total transaction of $301,015.00. Following the completion of the sale, the executive vice president now owns 9,939 shares in the company, valued at approximately $5,983,576.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 4,498 shares of the business’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the sale, the insider now owns 13,108 shares of the company’s stock, valued at approximately $7,904,124. The disclosure for this sale can be found here. Insiders sold a total of 8,998 shares of company stock valued at $5,278,469 in the last quarter. 0.22% of the stock is currently owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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