Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 10.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 122,440 shares of the retailer’s stock after selling 14,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Costco Wholesale were worth $34,911,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bluefin Trading LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $3,440,000. Arrow Financial Corp increased its stake in Costco Wholesale by 3.0% in the 4th quarter. Arrow Financial Corp now owns 10,631 shares of the retailer’s stock worth $3,125,000 after purchasing an additional 305 shares during the period. Adell Harriman & Carpenter Inc. boosted its stake in shares of Costco Wholesale by 18.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 16,458 shares of the retailer’s stock valued at $4,837,000 after purchasing an additional 2,538 shares during the period. Alhambra Investment Partners LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $1,039,000. Finally, Solstein Capital LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $327,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating in a report on Tuesday, March 17th. Barclays reissued a “neutral” rating on shares of Costco Wholesale in a research note on Sunday, March 8th. Cowen reaffirmed a “buy” rating and set a $350.00 price target on shares of Costco Wholesale in a research report on Friday, March 6th. Wolfe Research initiated coverage on Costco Wholesale in a research report on Tuesday, March 31st. They issued a “market perform” rating on the stock. Finally, UBS Group upped their target price on Costco Wholesale from $335.00 to $355.00 and gave the company a “buy” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $318.54.
Shares of NASDAQ:COST traded up $0.46 on Friday, hitting $302.43. 2,313,687 shares of the company traded hands, compared to its average volume of 2,861,295. The stock has a 50 day simple moving average of $304.26 and a 200-day simple moving average of $301.92. The company has a quick ratio of 0.52, a current ratio of 1.04 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.34 billion, a PE ratio of 35.50, a PEG ratio of 4.21 and a beta of 0.71. Costco Wholesale Co. has a 52 week low of $233.05 and a 52 week high of $325.26.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 5th. The retailer reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.04. The company had revenue of $39.10 billion for the quarter, compared to the consensus estimate of $38.26 billion. Costco Wholesale had a net margin of 2.39% and a return on equity of 23.41%. Costco Wholesale’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.01 EPS. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 8.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.70 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, April 30th. Costco Wholesale’s payout ratio is presently 34.19%.
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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