Highland Capital Management LLC lessened its holdings in Costco Wholesale Co. (NASDAQ: COST – Get Rating) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,332 shares of the retailer’s stock after selling 13,527 shares during the quarter. Costco Wholesale makes up about 1.5% of Highland Capital Management LLC’s holdings, making the stock its 9th largest position. Highland Capital Management LLC’s holdings in Costco Wholesale were worth $ 24,953,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Costco Wholesale during the fourth quarter worth about $ 2,323,746,000. State Street Corp grew its holdings in shares of Costco Wholesale by 10.2% during the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $ 10,389,605,000 after purchasing an additional 1,697,920 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Costco Wholesale by 3.1% during the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $ 17,643,166,000 after purchasing an additional 944,199 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $ 202,327,000. Finally, ProShare Advisors LLC boosted its stake in shares of Costco Wholesale by 56.0% during the fourth quarter. ProShare Advisors LLC now owns 819,712 shares of the retailer’s stock worth $ 465,350,000 after buying an additional 294,118 shares during the period. 67.52% of the stock is currently owned by hedge funds and other institutional investors.
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 value of $ 301,015.00. Following the transaction, 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 this link. Also, insider Daniel M. Hines sold 4,498 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $ 7,904,124. The disclosure for this sale can be found here. Insiders have sold a total of 7,498 shares of company stock worth $ 4,173,309 in the last 90 days. Company insiders own 0.22% of the company stock.
Shares of COST opened at $ 468.61 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $ 487.55 and a 200-day simple moving average of $ 520.74. Costco Wholesale Co. has a 1-year low of $ 393.88 and a 1-year high of $ 612.27. The stock has a market cap of $ 207.58 billion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 4.05 and a beta of 0.71.
Costco Wholesale (NASDAQ: COST – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The retailer reported $ 3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $ 3.03 by $ 0.01. The company had revenue of $ 52.60 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $ 2.75 EPS. On average, equities analysts expect that Costco Wholesale Co. will post 13.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were issued a dividend of $ 0.90 per share. 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. This represents a $ 3.60 annualized dividend and a dividend yield of 0.77%. Costco Wholesale’s payout ratio is presently 28.35%.
Several brokerages have recently weighed in on COST. Jefferies Financial Group reiterated a “buy” rating and set a $ 580.00 target price (up previously from $ 560.00) on shares of Costco Wholesale in a research note on Thursday, June 2nd. Telsey Advisory Group decreased their target price on shares of Costco Wholesale from $ 615.00 to $ 590.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Raymond James decreased their target price on shares of Costco Wholesale from $ 645.00 to $ 560.00 in a research note on Tuesday, May 31st. Credit Suisse Group reduced their price objective on shares of Costco Wholesale from $ 570.00 to $ 550.00 and set a “neutral” rating for the company in a research report on Friday, May 27th. Finally, BMO Capital Markets restated a “buy” rating and issued a $ 580.00 price objective on shares of Costco Wholesale in a research report on Monday, May 30th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $ 569.56.
Costco Wholesale Company 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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