WealthPLAN Partners LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 6.8% in the 1st quarter, HoldingsChannel reports. The fund owned 26,364 shares of the retailer’s stock after buying an additional 1,680 shares during the quarter. Costco Wholesale makes up about 1.1% of WealthPLAN Partners LLC’s holdings, making the stock its 15th largest holding. WealthPLAN Partners LLC’s holdings in Costco Wholesale were worth $4,968,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Costco Wholesale by 137.0% in the 4th quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after acquiring an additional 326 shares in the last quarter. Well Done LLC purchased a new stake in Costco Wholesale in the 1st quarter worth approximately $109,000. Smart Portfolios LLC purchased a new stake in Costco Wholesale in the 1st quarter worth approximately $113,000. American Beacon Advisors Inc. purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $120,000. Finally, Trustcore Financial Services LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $128,000. 71.44% of the stock is owned by institutional investors.
COST has been the subject of several analyst reports. Loop Capital initiated coverage on shares of Costco Wholesale in a report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 target price for the company. Robert W. Baird increased their price objective on shares of Costco Wholesale from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. Wells Fargo & Co raised shares of Costco Wholesale from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $191.42 to $188.91 in a report on Monday, April 16th. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 28th. Finally, Telsey Advisory Group increased their price objective on shares of Costco Wholesale from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, June 1st. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $197.52.
Shares of NASDAQ COST traded up $1.10 during midday trading on Thursday, reaching $205.21. 11,836 shares of the stock traded hands, compared to its average volume of 2,345,717. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. The company has a market capitalization of $89.68 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.72 and a beta of 0.95. Costco Wholesale Co. has a one year low of $150.00 and a one year high of $205.83.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 31st. The retailer reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. Costco Wholesale’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. equities analysts predict that Costco Wholesale Co. will post 6.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, May 10th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 1.11%. Costco Wholesale’s dividend payout ratio (DPR) is currently 39.18%.
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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