Qube Research & Technologies Ltd Has $2.28 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Qube Research & Technologies Ltd lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 75.7% during the second quarter, Holdings Channel.com reports. The firm owned 8,642 shares of the retailer’s stock after buying an additional 3,723 shares during the period. Qube Research & Technologies Ltd’s holdings in Costco Wholesale were worth $2,284,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COST. Thoroughbred Financial Services LLC lifted its position in shares of Costco Wholesale by 31,276.3% during the second quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock worth $84,371,000 after purchasing an additional 841,019 shares in the last quarter. Ellis Investment Partners LLC lifted its holdings in Costco Wholesale by 24,131.7% in the first quarter. Ellis Investment Partners LLC now owns 610,154 shares of the retailer’s stock valued at $610,000 after buying an additional 607,636 shares during the period. FMR LLC lifted its holdings in Costco Wholesale by 5.0% in the first quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after buying an additional 518,843 shares during the period. Clearbridge Investments LLC lifted its holdings in Costco Wholesale by 11.5% in the first quarter. Clearbridge Investments LLC now owns 2,409,355 shares of the retailer’s stock valued at $583,401,000 after buying an additional 249,464 shares during the period. Finally, Marshall Wace North America L.P. lifted its holdings in Costco Wholesale by 86.0% in the first quarter. Marshall Wace North America L.P. now owns 311,951 shares of the retailer’s stock valued at $75,537,000 after buying an additional 144,254 shares during the period. Institutional investors own 71.20% of the company’s stock.

NASDAQ:COST traded up $2.58 during trading hours on Friday, hitting $274.10. The stock had a trading volume of 1,230,800 shares, compared to its average volume of 1,822,696. Costco Wholesale Co. has a one year low of $189.51 and a one year high of $284.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The company has a market cap of $119.41 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 3.81 and a beta of 0.95. The business’s 50 day moving average is $274.36 and its 200-day moving average is $247.55.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The firm had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.

Costco Wholesale announced that its Board of Directors has initiated a stock buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s payout ratio is presently 38.07%.

In other Costco Wholesale news, Director Susan L. Decker sold 2,790 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the sale, the director now owns 45,405 shares of the company’s stock, valued at $11,561,021.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick J. Callans sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $252.15, for a total transaction of $504,300.00. Following the completion of the sale, the vice president now directly owns 66,479 shares of the company’s stock, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock valued at $7,380,374 in the last ninety days. Insiders own 0.21% of the company’s stock.

Several equities analysts recently weighed in on COST shares. Deutsche Bank set a $252.00 price objective on shares of Costco Wholesale and gave the company a “hold” rating in a report on Monday, July 15th. Goldman Sachs Group started coverage on shares of Costco Wholesale in a report on Thursday, July 11th. They issued a “buy” rating and a $290.00 price objective on the stock. BMO Capital Markets set a $275.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, May 31st. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Oppenheimer increased their price objective on shares of Costco Wholesale from $270.00 to $295.00 in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $266.04.

Costco Wholesale Profile

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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