Baldwin Brothers Inc. MA lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,368 shares of the retailer’s stock after selling 2,658 shares during the period. Costco Wholesale makes up 2.7% of Baldwin Brothers Inc. MA’s portfolio, making the stock its 6th biggest position. Baldwin Brothers Inc. MA’s holdings in Costco Wholesale were worth $17,968,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in COST. Krane Funds Advisors LLC purchased a new stake in shares of Costco Wholesale during the second quarter worth $26,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Costco Wholesale during the second quarter worth $27,000. Cerebellum GP LLC acquired a new position in Costco Wholesale during the third quarter worth $32,000. Thor Advisors LLC acquired a new position in Costco Wholesale during the first quarter worth $35,000. Finally, Princeton Global Asset Management LLC increased its position in Costco Wholesale by 88.6% during the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock worth $35,000 after buying an additional 62 shares during the last quarter. Institutional investors own 71.07% of the company’s stock.
Several equities analysts have commented on COST shares. Nomura increased their target price on shares of Costco Wholesale from $235.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Barclays set a $275.00 target price on shares of Costco Wholesale and gave the stock a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada increased their target price on shares of Costco Wholesale from $321.00 to $329.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Oppenheimer downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $295.00 to $300.00 in a research report on Wednesday, September 11th. Finally, Wells Fargo & Co increased their target price on shares of Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $293.13.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.54 by $0.15. The company had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.36 earnings per share. As a group, analysts anticipate that Costco Wholesale Co. will post 8.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s dividend payout ratio is currently 31.75%.
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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