Bogle Investment Management L P DE raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 11.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,581 shares of the retailer’s stock after purchasing an additional 3,796 shares during the quarter. Costco Wholesale accounts for about 1.1% of Bogle Investment Management L P DE’s portfolio, making the stock its 15th biggest position. Bogle Investment Management L P DE’s holdings in Costco Wholesale were worth $10,715,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of COST. Your Advocates Ltd. LLP bought a new position in Costco Wholesale in the 1st quarter valued at $28,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $29,000. Tobias Financial Advisors Inc. bought a new position in Costco Wholesale during the fourth quarter valued at about $29,000. Key Financial Inc purchased a new stake in Costco Wholesale during the first quarter worth about $32,000. Finally, Cox Capital Mgt LLC bought a new stake in Costco Wholesale in the first quarter worth about $34,000. Institutional investors own 68.87% of the company’s stock.
Several equities research analysts have recently issued reports on COST shares. Credit Suisse Group restated a “hold” rating and set a $328.00 price target on shares of Costco Wholesale in a research note on Friday. Royal Bank of Canada raised their target price on Costco Wholesale from $332.00 to $348.00 in a research report on Friday. Loop Capital boosted their target price on Costco Wholesale from $350.00 to $355.00 in a research note on Thursday, April 9th. BidaskClub downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, BMO Capital Markets lifted their price objective on Costco Wholesale from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $318.46.
COST stock traded down $2.16 during mid-day trading on Tuesday, hitting $306.13. 1,632,774 shares of the stock were exchanged, compared to its average volume of 2,920,203. The business has a fifty day moving average price of $306.19 and a 200 day moving average price of $302.20. Costco Wholesale Co. has a 12 month low of $233.05 and a 12 month high of $325.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 0.52. The stock has a market capitalization of $136.21 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 4.33 and a beta of 0.70.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 28th. The retailer reported $1.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.03). Costco Wholesale had a net margin of 2.31% and a return on equity of 22.92%. The firm had revenue of $36.45 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Costco Wholesale Co. will post 8.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.80 annualized dividend and a yield of 0.91%. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.65. Costco Wholesale’s payout ratio is presently 34.19%.
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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