Beacon Pointe Advisors LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,197 shares of the retailer’s stock, valued at approximately $2,276,000. Costco Wholesale comprises 1.4% of Beacon Pointe Advisors LLC’s portfolio, making the stock its 18th biggest position.
Several other hedge funds also recently made changes to their positions in COST. Lenox Wealth Management Inc. increased its stake in shares of Costco Wholesale by 125.9% in the 4th quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock valued at $25,000 after acquiring an additional 68 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $29,000. Mackey Komara & Dankovich LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $41,000. Evolution Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $41,000. Finally, Ruggie Capital Group bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $61,000. 78.27% of the stock is owned by institutional investors.
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In other Costco Wholesale news, Director Susan L. Decker sold 1,611 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $206.15, for a total transaction of $332,107.65. Following the completion of the transaction, the director now owns 51,389 shares of the company’s stock, valued at approximately $10,593,842.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 739 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $205.00, for a total value of $151,495.00. Following the transaction, the director now directly owns 52,249 shares of the company’s stock, valued at approximately $10,711,045. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
NASDAQ COST opened at $216.47 on Friday. Costco Wholesale Co. has a 52-week low of $180.83 and a 52-week high of $245.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.48. The company has a market cap of $95.35 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 13th. The retailer reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Costco Wholesale had a return on equity of 24.54% and a net margin of 2.25%. The business had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.66 billion. During the same period in the previous year, the company posted $1.45 earnings per share. Costco Wholesale’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Costco Wholesale Co. will post 7.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 8th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 33.38%.
A number of brokerages have recently commented on COST. BMO Capital Markets set a $258.00 price target on Costco Wholesale and gave the company a “buy” rating in a research note on Friday, December 14th. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 25th. Barclays reissued a “hold” rating and set a $225.00 target price on shares of Costco Wholesale in a research note on Wednesday, January 9th. Argus reissued a “buy” rating and set a $245.00 target price (down from $255.00) on shares of Costco Wholesale in a research note on Monday, December 24th. They noted that the move was a valuation call. Finally, Oppenheimer lowered their target price on Costco Wholesale from $262.00 to $240.00 in a research note on Friday, December 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $242.15.
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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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