First United Bank & Trust lowered its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,602 shares of the retailer’s stock after selling 80 shares during the period. First United Bank & Trust’s holdings in Costco Wholesale were worth $1,498,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Fortune 45 LLC increased its stake in shares of Costco Wholesale by 8.6% during the first quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock worth $401,000 after purchasing an additional 55 shares in the last quarter. Close Asset Management Ltd purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $164,500,000. Poplar Forest Capital LLC increased its stake in shares of Costco Wholesale by 5.2% during the fourth quarter. Poplar Forest Capital LLC now owns 526 shares of the retailer’s stock worth $299,000 after purchasing an additional 26 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Costco Wholesale by 6.2% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 1,599 shares of the retailer’s stock worth $908,000 after purchasing an additional 93 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of Costco Wholesale by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock worth $3,502,000 after purchasing an additional 209 shares in the last quarter. 67.52% of the stock is owned by institutional investors and hedge funds.
Shares of COST stock opened at $469.84 on Thursday. The firm’s 50-day moving average price is $484.88 and its 200-day moving average price is $520.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. Costco Wholesale Co. has a one year low of $393.88 and a one year high of $612.27. The firm has a market cap of $208.12 billion, a P/E ratio of 37.00, a P/E/G ratio of 4.05 and a beta of 0.71.
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. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The firm had revenue of $52.60 billion for the quarter, compared to analyst estimates of $51.49 billion. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 EPS. As a group, research analysts predict that Costco Wholesale Co. will post 13.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, April 28th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 dividend on an annualized basis and a yield of 0.77%. Costco Wholesale’s dividend payout ratio is 28.35%.
A number of research firms have recently commented on COST. Loop Capital cut their target price on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Telsey Advisory Group dropped their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $580.00 price objective (up previously from $560.00) on shares of Costco Wholesale in a research note on Thursday, June 2nd. Truist Financial raised their price objective on shares of Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Costco Wholesale from $530.00 to $525.00 in a research note on Wednesday, May 25th. 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, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $569.56.
In other news, Director Mary Agnes Wilderotter acquired 850 shares of Costco Wholesale stock in a transaction dated Tuesday, June 7th. The shares were acquired at an average cost of $470.74 per share, for a total transaction of $400,129.00. Following the acquisition, the director now owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James P. Murphy sold 2,500 shares of the stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the completion of the transaction, the vice president now directly owns 37,730 shares in the company, valued at $17,506,720. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,498 shares of company stock worth $4,173,309. 0.22% of the stock is owned by company insiders.
About Costco Wholesale: (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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