Costco Wholesale Co. (COST) Shares Bought by Highlander Capital Management LLC
Highlander Capital Management LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 50.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,022 shares of the retailer’s stock after acquiring an additional 2,700 shares during the quarter. Costco Wholesale accounts for about 0.9% of Highlander Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Highlander Capital Management LLC’s holdings in Costco Wholesale were worth $1,458,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. AXA raised its holdings in Costco Wholesale by 0.7% during the 4th quarter. AXA now owns 709,666 shares of the retailer’s stock valued at $132,083,000 after buying an additional 4,884 shares during the last quarter. Douglass Winthrop Advisors LLC increased its position in Costco Wholesale by 0.7% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 227,773 shares of the retailer’s stock valued at $42,393,000 after purchasing an additional 1,634 shares during the period. Fieldpoint Private Securities LLC increased its position in Costco Wholesale by 55.4% during the 4th quarter. Fieldpoint Private Securities LLC now owns 3,185 shares of the retailer’s stock valued at $593,000 after purchasing an additional 1,135 shares during the period. LPL Financial LLC increased its position in Costco Wholesale by 20.4% during the 4th quarter. LPL Financial LLC now owns 203,844 shares of the retailer’s stock valued at $37,939,000 after purchasing an additional 34,517 shares during the period. Finally, X Square Capital LLC purchased a new position in Costco Wholesale during the 4th quarter valued at $302,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.
A number of research firms have recently weighed in on COST. JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Susquehanna Bancshares reaffirmed a “positive” rating on shares of Costco Wholesale in a research report on Thursday, June 7th. Robert W. Baird upped their target price on shares of Costco Wholesale from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, June 7th. Finally, Loop Capital began coverage on shares of Costco Wholesale in a research report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Costco Wholesale currently has an average rating of “Buy” and an average price target of $197.52.
Shares of Costco Wholesale traded up $0.99, hitting $205.10, during trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 6,956 shares, compared to its average volume of 2,345,717. Costco Wholesale Co. has a 12 month low of $150.00 and a 12 month high of $205.83. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $89.68 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. The company had revenue of $32.36 billion during the quarter, compared to analyst estimates of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. analysts expect that Costco Wholesale Co. will post 6.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.11%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, May 10th. Costco Wholesale’s dividend payout ratio is currently 39.18%.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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