Point72 Asset Management L.P. Invests $40.11 Million in Costco Wholesale Co. (NASDAQ:COST)

Point72 Asset Management L.P. bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 113,803 shares of the retailer’s stock, valued at approximately $40,113,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. St. Johns Investment Management Company LLC acquired a new stake in Costco Wholesale in the first quarter worth approximately $27,000. Cordasco Financial Network acquired a new stake in Costco Wholesale in the first quarter worth approximately $30,000. Sage Financial Management Group Inc. acquired a new stake in Costco Wholesale in the first quarter worth approximately $38,000. Wealthcare Capital Management LLC bought a new position in shares of Costco Wholesale in the first quarter valued at $43,000. Finally, Piscataqua Savings Bank bought a new position in shares of Costco Wholesale in the first quarter valued at $49,000. Hedge funds and other institutional investors own 65.57% of the company’s stock.

Shares of NASDAQ:COST opened at $415.21 on Thursday. The company has a market capitalization of $183.55 billion, a PE ratio of 39.00, a PEG ratio of 4.37 and a beta of 0.66. Costco Wholesale Co. has a 1 year low of $307.00 and a 1 year high of $418.07. The stock has a fifty day simple moving average of $391.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 0.50.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Wednesday, May 26th. The retailer reported $2.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.47. The firm had revenue of $44.38 billion during the quarter, compared to analysts’ expectations of $43.82 billion. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. Costco Wholesale’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. On average, equities analysts anticipate that Costco Wholesale Co. will post 10.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 13th. Investors of record on Friday, July 30th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, July 29th. Costco Wholesale’s dividend payout ratio is presently 35.71%.

In other Costco Wholesale news, CFO Richard A. Galanti sold 2,230 shares of the company’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $372.06, for a total transaction of $829,693.80. Following the completion of the sale, the chief financial officer now directly owns 22,871 shares in the company, valued at $8,509,384.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Roland Michael Vachris sold 4,000 shares of the company’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $409.40, for a total transaction of $1,637,600.00. Following the sale, the vice president now owns 11,602 shares of the company’s stock, valued at $4,749,858.80. The disclosure for this sale can be found here. Insiders sold 17,730 shares of company stock valued at $6,915,279 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

COST has been the topic of several research reports. Barclays upped their price target on Costco Wholesale from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, May 28th. They noted that the move was a valuation call. upped their price target on Costco Wholesale from $380.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. Oppenheimer upped their price target on Costco Wholesale from $425.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, July 9th. Loop Capital upped their price target on Costco Wholesale from $415.00 to $425.00 and gave the company a “buy” rating in a report on Friday, May 28th. They noted that the move was a valuation call. Finally, Robert W. Baird boosted their target price on shares of Costco Wholesale from $415.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday, May 28th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $407.50.

Costco Wholesale Company Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.

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

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