Sowell Financial Services LLC Purchases 3,232 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sowell Financial Services LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 24.5% in the first quarter, HoldingsChannel reports. The fund owned 16,438 shares of the retailer’s stock after buying an additional 3,232 shares during the period. Sowell Financial Services LLC’s holdings in Costco Wholesale were worth $4,687,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Costco Wholesale by 0.5% during the fourth quarter. State Street Corp now owns 18,460,945 shares of the retailer’s stock worth $5,426,041,000 after acquiring an additional 93,587 shares during the last quarter. Geode Capital Management LLC increased its holdings in Costco Wholesale by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 6,496,150 shares of the retailer’s stock valued at $1,905,225,000 after purchasing an additional 300,809 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Costco Wholesale by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 4,621,092 shares of the retailer’s stock valued at $1,317,613,000 after purchasing an additional 45,677 shares during the last quarter. Norges Bank bought a new stake in Costco Wholesale in the fourth quarter valued at about $1,337,357,000. Finally, Fisher Asset Management LLC increased its holdings in Costco Wholesale by 1.2% in the first quarter. Fisher Asset Management LLC now owns 3,076,039 shares of the retailer’s stock valued at $877,071,000 after purchasing an additional 37,808 shares during the last quarter. Institutional investors own 68.54% of the company’s stock.

Shares of COST stock traded down $1.09 on Friday, hitting $308.47. 4,927,079 shares of the stock were exchanged, compared to its average volume of 2,797,143. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $136.70 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 4.32 and a beta of 0.71. The business has a 50-day moving average of $305.80 and a 200 day moving average of $302.11. Costco Wholesale Co. has a fifty-two week low of $233.05 and a fifty-two week high of $325.26.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.03). Costco Wholesale had a net margin of 2.39% and a return on equity of 23.41%. The company had revenue of $36.45 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Costco Wholesale Co. will post 8.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, April 30th. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 0.91%. Costco Wholesale’s dividend payout ratio is 34.19%.

A number of research firms recently commented on COST. Cowen reiterated a “buy” rating and issued a $350.00 price objective on shares of Costco Wholesale in a report on Friday, March 6th. Loop Capital upped their price objective on Costco Wholesale from $350.00 to $355.00 in a report on Thursday, April 9th. Credit Suisse Group reiterated a “hold” rating and issued a $328.00 price objective on shares of Costco Wholesale in a report on Friday. Wolfe Research began coverage on Costco Wholesale in a report on Tuesday, March 31st. They issued a “market perform” rating for the company. Finally, UBS Group upped their price objective on Costco Wholesale from $335.00 to $355.00 and gave the company a “buy” rating in a report on Friday, March 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $318.46.

In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total value of $1,550,000.00. Following the sale, the vice president now owns 42,771 shares in the company, valued at $13,259,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard A. Galanti sold 1,448 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $306.51, for a total value of $443,826.48. Following the completion of the sale, the chief financial officer now owns 23,967 shares in the company, valued at approximately $7,346,125.17. The disclosure for this sale can be found here. Insiders have sold 7,448 shares of company stock valued at $2,308,656 over the last three months. Insiders own 0.22% of the company’s stock.

Costco Wholesale Company 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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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

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

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