Gabelli Funds LLC Has $39.11 Million Position in Costco Wholesale Co. (COST)
Gabelli Funds LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 166,500 shares of the retailer’s stock after selling 6,000 shares during the period. Gabelli Funds LLC’s holdings in Costco Wholesale were worth $39,108,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of COST. MUFG Securities EMEA plc acquired a new stake in Costco Wholesale during the 2nd quarter valued at $103,000. Parkside Investments LLC acquired a new stake in Costco Wholesale during the 3rd quarter valued at $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Costco Wholesale during the 2nd quarter valued at $119,000. Capital Advisors Ltd. LLC increased its holdings in Costco Wholesale by 180.0% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after purchasing an additional 360 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in Costco Wholesale by 632.9% during the 3rd quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock valued at $136,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.
Shares of Costco Wholesale stock opened at $237.74 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Costco Wholesale Co. has a 12 month low of $167.05 and a 12 month high of $245.16. The firm has a market cap of $105.33 billion, a P/E ratio of 35.14, a P/E/G ratio of 3.07 and a beta of 0.91.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
Several research firms have recently commented on COST. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Tuesday, September 11th. BMO Capital Markets set a $260.00 target price on Costco Wholesale and gave the company a “buy” rating in a research note on Monday, September 10th. Raymond James lifted their target price on Costco Wholesale from $225.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, September 10th. Wells Fargo & Co cut Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 target price for the company. in a research note on Friday, September 14th. Finally, Loop Capital set a $265.00 target price on Costco Wholesale and gave the company a “buy” rating in a research note on Thursday, September 6th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale has an average rating of “Buy” and an average target price of $237.94.
In related news, Director Richard M. Libenson sold 2,049 shares of Costco Wholesale stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $224.00, for a total transaction of $458,976.00. Following the completion of the sale, the director now directly owns 3,049 shares of the company’s stock, valued at $682,976. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard A. Galanti sold 4,163 shares of Costco Wholesale stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $227.23, for a total value of $945,958.49. Following the sale, the vice president now directly owns 32,270 shares of the company’s stock, valued at $7,332,712.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,312 shares of company stock valued at $14,547,272. 0.74% of the stock is owned by insiders.
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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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