FDx Advisors Inc. raised its holdings in Costco (NASDAQ:COST) by 28.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,361 shares of the retailer’s stock after acquiring an additional 3,429 shares during the period. FDx Advisors Inc.’s holdings in Costco were worth $2,894,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CENTRAL TRUST Co increased its position in shares of Costco by 1.0% during the fourth quarter. CENTRAL TRUST Co now owns 26,520 shares of the retailer’s stock worth $4,936,000 after buying an additional 265 shares during the period. Fiduciary Trust Co. increased its position in shares of Costco by 3.0% during the fourth quarter. Fiduciary Trust Co. now owns 9,116 shares of the retailer’s stock worth $1,696,000 after buying an additional 265 shares during the period. Boston Financial Mangement LLC increased its position in shares of Costco by 0.3% during the fourth quarter. Boston Financial Mangement LLC now owns 107,714 shares of the retailer’s stock worth $20,048,000 after buying an additional 288 shares during the period. Fulton Bank N.A. increased its position in shares of Costco by 2.2% during the fourth quarter. Fulton Bank N.A. now owns 13,566 shares of the retailer’s stock worth $2,525,000 after buying an additional 290 shares during the period. Finally, Cypress Capital Management LLC WY increased its position in shares of Costco by 11.4% during the fourth quarter. Cypress Capital Management LLC WY now owns 2,830 shares of the retailer’s stock worth $527,000 after buying an additional 290 shares during the period. Hedge funds and other institutional investors own 73.03% of the company’s stock.
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Costco stock opened at $195.19 on Friday. Costco has a 1-year low of $150.00 and a 1-year high of $199.88. The firm has a market capitalization of $85,131.13, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00.
Costco (NASDAQ:COST) last released its quarterly earnings data on Wednesday, March 7th. The retailer reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.03). Costco had a net margin of 2.18% and a return on equity of 24.74%. The business had revenue of $33 billion during the quarter, compared to the consensus estimate of $32.73 billion. During the same period last year, the business posted $1.17 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. equities research analysts predict that Costco will post 6.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Costco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 10th. Costco’s dividend payout ratio (DPR) is 34.36%.
In other Costco news, VP Timothy L. Rose sold 17,000 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $185.33, for a total value of $3,150,610.00. Following the transaction, the vice president now directly owns 34,903 shares of the company’s stock, valued at $6,468,572.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Russell D. Miller sold 12,393 shares of the firm’s stock in a transaction on Thursday, April 19th. The shares were sold at an average price of $194.12, for a total transaction of $2,405,729.16. Following the completion of the transaction, the insider now directly owns 1 shares in the company, valued at $194.12. The disclosure for this sale can be found here. Insiders sold 62,067 shares of company stock worth $11,700,142 over the last ninety days. Insiders own 0.74% of the company’s stock.
Several research firms have recently weighed in on COST. Wells Fargo upgraded shares of Costco from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $191.42 to $188.91 in a research report on Monday, April 16th. BidaskClub upgraded shares of Costco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 price objective (down from $209.00) on shares of Costco in a research report on Thursday, March 8th. Vetr cut shares of Costco from a “buy” rating to a “hold” rating and set a $195.68 price objective for the company. in a research report on Tuesday, February 20th. Finally, Argus increased their price objective on shares of Costco to $200.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Costco presently has an average rating of “Buy” and a consensus price target of $192.14.
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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