Advisor Partners LLC Acquires 386 Shares of Costco Wholesale Co. (COST)
Advisor Partners LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,683 shares of the retailer’s stock after buying an additional 386 shares during the period. Advisor Partners LLC’s holdings in Costco Wholesale were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in COST. BlackRock Inc. lifted its position in shares of Costco Wholesale by 3.3% during the second quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock valued at $5,667,910,000 after purchasing an additional 858,755 shares in the last quarter. FMR LLC lifted its position in shares of Costco Wholesale by 13.5% during the second quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock valued at $2,209,107,000 after purchasing an additional 1,256,873 shares in the last quarter. Northern Trust Corp lifted its position in shares of Costco Wholesale by 0.6% during the second quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock valued at $1,301,817,000 after purchasing an additional 37,778 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Costco Wholesale by 3.2% during the third quarter. Fisher Asset Management LLC now owns 2,680,719 shares of the retailer’s stock valued at $629,647,000 after purchasing an additional 82,875 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock valued at $376,180,000 after purchasing an additional 23,227 shares in the last quarter. 71.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on COST. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Tuesday, September 11th. BMO Capital Markets set a $260.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Monday, September 10th. Raymond James raised their price objective on shares of Costco Wholesale from $225.00 to $252.00 and gave the stock an “outperform” rating in a report on Monday, September 10th. Wells Fargo & Co downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 price objective for the company. in a report on Friday, September 14th. Finally, Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, September 6th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $237.94.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. On average, equities research analysts anticipate that Costco Wholesale Co. will post 7.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 0.99%. Costco Wholesale’s payout ratio is 33.38%.
In other news, Director Richard M. Libenson sold 2,049 shares of Costco Wholesale stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $224.00, for a total value of $458,976.00. Following the completion of the transaction, the director now owns 3,049 shares in the company, valued at $682,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $235.81, for a total transaction of $707,430.00. Following the completion of the transaction, the director now owns 8,654 shares of the company’s stock, valued at approximately $2,040,699.74. The disclosure for this sale can be found here. Insiders sold 64,312 shares of company stock valued at $14,547,272 in the last quarter. Corporate insiders own 0.58% of the company’s stock.
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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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