Successful Portfolios LLC Grows Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Successful Portfolios LLC lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949 shares of the retailer’s stock after purchasing an additional 43 shares during the quarter. Successful Portfolios LLC’s holdings in Costco Wholesale were worth $273,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in Costco Wholesale in the second quarter worth $26,000. Massey Quick Simon & CO. LLC purchased a new position in Costco Wholesale in the second quarter worth $27,000. Cerebellum GP LLC purchased a new position in Costco Wholesale in the third quarter worth $32,000. Thor Advisors LLC purchased a new position in Costco Wholesale in the first quarter worth $35,000. Finally, Princeton Global Asset Management LLC raised its position in Costco Wholesale by 88.6% in the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock worth $35,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.

Shares of COST traded up $0.46 during trading hours on Friday, reaching $297.60. 1,855,358 shares of the company traded hands, compared to its average volume of 2,572,359. The company has a quick ratio of 0.52, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $128.37 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 4.00 and a beta of 0.94. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $307.34. The stock has a fifty day simple moving average of $290.11 and a 200 day simple moving average of $265.69.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.15. The business had revenue of $47.50 billion for the quarter, compared to analyst estimates of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.36 earnings per share. Research analysts predict that Costco Wholesale Co. will post 8.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, August 29th. Costco Wholesale’s payout ratio is currently 31.75%.

Several research analysts have issued reports on COST shares. Stifel Nicolaus increased their price objective on Costco Wholesale from $289.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer cut Costco Wholesale from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $295.00 to $300.00 in a research report on Wednesday, September 11th. Bank of America raised their price target on Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Wells Fargo & Co raised their price target on Costco Wholesale from $240.00 to $290.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, Barclays set a $275.00 price target on Costco Wholesale and gave the company a “hold” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $293.13.

In related news, VP Paul G. Moulton sold 5,976 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the sale, the vice president now owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

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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