Legacy Bridge LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,416 shares of the retailer’s stock after purchasing an additional 70 shares during the period. Legacy Bridge LLC’s holdings in Costco Wholesale were worth $827,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC grew its holdings in Costco Wholesale by 1.5% during the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock valued at $671,000 after purchasing an additional 41 shares during the period. Nachman Norwood & Parrott Inc grew its holdings in Costco Wholesale by 4.1% during the first quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock valued at $269,000 after purchasing an additional 44 shares during the period. Intl Fcstone Inc. grew its holdings in Costco Wholesale by 3.7% during the first quarter. Intl Fcstone Inc. now owns 1,302 shares of the retailer’s stock valued at $315,000 after purchasing an additional 47 shares during the period. Bigelow Investment Advisors LLC lifted its position in shares of Costco Wholesale by 3.3% in the fourth quarter. Bigelow Investment Advisors LLC now owns 1,575 shares of the retailer’s stock valued at $321,000 after acquiring an additional 50 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its position in shares of Costco Wholesale by 3.6% in the first quarter. Community Bank & Trust Waco Texas now owns 1,433 shares of the retailer’s stock valued at $347,000 after acquiring an additional 50 shares in the last quarter. 72.22% of the stock is owned by institutional investors and hedge funds.
In related news, Director Susan L. Decker sold 2,350 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total value of $564,000.00. Following the sale, the director now directly owns 46,239 shares in the company, valued at $11,097,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Meisenbach bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was purchased at an average price of $242.65 per share, for a total transaction of $727,950.00. Following the completion of the transaction, the director now directly owns 12,833 shares of the company’s stock, valued at approximately $3,113,927.45. The disclosure for this purchase can be found here. Insiders sold 8,587 shares of company stock worth $2,004,576 over the last quarter. 0.21% of the stock is owned by company insiders.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.34. The company had revenue of $35.40 billion for the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter in the prior year, the firm posted $1.59 earnings per share. On average, equities research analysts anticipate that Costco Wholesale Co. will post 7.92 EPS for the current year.
Costco Wholesale announced that its Board of Directors has initiated a share repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.65 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 9th. Costco Wholesale’s payout ratio is currently 38.07%.
Several equities analysts have recently commented on COST shares. Bank of America set a $255.00 price objective on Costco Wholesale and gave the company a “buy” rating in a research report on Friday, March 8th. BidaskClub downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 25th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a research report on Monday, March 11th. UBS Group boosted their price objective on Costco Wholesale to $280.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Loop Capital boosted their price objective on Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $249.90.
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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