Artemis Investment Management LLP grew its stake in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,832 shares of the retailer’s stock after buying an additional 1,066 shares during the period. Artemis Investment Management LLP’s holdings in Costco Wholesale were worth $12,559,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Inspire Investing LLC grew its stake in Costco Wholesale by 264.6% in the 1st quarter. Inspire Investing LLC now owns 1,925 shares of the retailer’s stock worth $1,108,000 after buying an additional 1,397 shares in the last quarter. Berkshire Bank boosted its stake in shares of Costco Wholesale by 46.6% in the 1st quarter. Berkshire Bank now owns 959 shares of the retailer’s stock valued at $552,000 after purchasing an additional 305 shares in the last quarter. Zhang Financial LLC boosted its stake in shares of Costco Wholesale by 238.3% in the 1st quarter. Zhang Financial LLC now owns 1,326 shares of the retailer’s stock valued at $763,000 after purchasing an additional 934 shares in the last quarter. apricus wealth LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $214,000. Finally, Benin Management CORP boosted its stake in shares of Costco Wholesale by 3.4% in the 1st quarter. Benin Management CORP now owns 6,033 shares of the retailer’s stock valued at $3,474,000 after purchasing an additional 200 shares in the last quarter. 67.52% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Claudine Adamo sold 500 shares of the stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the completion of the transaction, the executive vice president now directly owns 9,939 shares in the company, valued at approximately $5,983,576.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 4,498 shares of the stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the completion of the transaction, the insider now owns 13,108 shares of the company’s stock, valued at $7,904,124. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,498 shares of company stock valued at $4,173,309. 0.22% of the stock is owned by company insiders.
A number of equity research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Tigress Financial raised their price objective on shares of Costco Wholesale from $520.00 to $678.00 in a research note on Thursday, April 14th. Raymond James lowered their price target on shares of Costco Wholesale from $645.00 to $560.00 in a report on Tuesday, May 31st. Finally, Credit Suisse Group lowered their price target on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $569.56.
Shares of NASDAQ COST opened at $485.76 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 12 month low of $396.11 and a 12 month high of $612.27. The firm has a market capitalization of $215.17 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 4.06 and a beta of 0.65. The firm has a fifty day simple moving average of $480.91 and a two hundred day simple moving average of $519.11.
Costco Wholesale (NASDAQ:COST – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, topping the consensus estimate of $3.03 by $0.01. The business 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%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.75 EPS. On average, sell-side analysts predict that Costco Wholesale Co. will post 13.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.74%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.
Costco Wholesale Profile: (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.
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