Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4,922.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,808 shares of the retailer’s stock after buying an additional 1,772 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Costco Wholesale were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in COST. Krane Funds Advisors LLC acquired a new stake in shares of Costco Wholesale in the second quarter worth $26,000. Massey Quick Simon & CO. LLC acquired a new stake in Costco Wholesale during the 2nd quarter worth about $27,000. Horan Capital Advisors LLC. purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at about $31,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Costco Wholesale by 164.3% in the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock valued at $32,000 after buying an additional 69 shares during the period. Finally, Enterprise Trust & Investment Co boosted its stake in shares of Costco Wholesale by 171.7% in the third quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock worth $36,000 after buying an additional 79 shares during the last quarter. Institutional investors own 71.14% of the company’s stock.
A number of research analysts have issued reports on the company. Nomura initiated coverage on Costco Wholesale in a report on Friday, November 8th. They issued a “neutral” rating and a $300.00 price target for the company. Loop Capital lifted their target price on shares of Costco Wholesale to $330.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Evercore ISI reissued a “buy” rating on shares of Costco Wholesale in a report on Sunday, August 11th. Finally, Northcoast Research cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $295.57.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The business had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same period in the prior year, the business earned $2.36 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Costco Wholesale Co. will post 8.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is currently 31.75%.
In other Costco Wholesale news, VP Joseph P. Portera sold 14,095 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $299.52, for a total value of $4,221,734.40. Following the transaction, the vice president now directly owns 6,211 shares in the company, valued at approximately $1,860,318.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul G. Moulton sold 5,976 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the completion of the sale, the vice president now directly owns 36,010 shares of the company’s stock, valued at approximately $10,733,140.60. The disclosure for this sale can be found here. Insiders have sold 33,093 shares of company stock worth $9,915,511 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
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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