Strategic Blueprint LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 81.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,734 shares of the retailer’s stock after buying an additional 779 shares during the quarter. Strategic Blueprint LLC’s holdings in Costco Wholesale were worth $686,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. purchased a new stake in Costco Wholesale in the second quarter worth about $31,000. KB Financial Partners LLC purchased a new position in shares of Costco Wholesale during the first quarter valued at approximately $35,000. Sage Financial Management Group Inc. purchased a new position in shares of Costco Wholesale during the first quarter valued at approximately $38,000. West Financial Advisors LLC raised its holdings in Costco Wholesale by 100.0% in the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after acquiring an additional 50 shares during the last quarter. Finally, PNC Managed Account Solutions Inc. purchased a new position in Costco Wholesale in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 66.96% of the company’s stock.
Shares of NASDAQ COST opened at $467.75 on Friday. The firm’s 50-day moving average price is $446.49 and its 200-day moving average price is $398.99. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $206.78 billion, a price-to-earnings ratio of 43.96, a P/E/G ratio of 4.35 and a beta of 0.66. Costco Wholesale Co. has a 12-month low of $307.00 and a 12-month high of $469.77.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a dividend of $0.79 per share. The ex-dividend date was Thursday, July 29th. This represents a $3.16 annualized dividend and a yield of 0.68%. Costco Wholesale’s payout ratio is 35.71%.
A number of research firms have commented on COST. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Monday, September 6th. boosted their price objective on shares of Costco Wholesale from $380.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, June 2nd. Loop Capital boosted their price objective on shares of Costco Wholesale from $455.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Royal Bank of Canada boosted their price objective on shares of Costco Wholesale from $425.00 to $453.00 and gave the company an “outperform” rating in a research report on Friday, May 28th. Finally, Morgan Stanley boosted their price objective on shares of Costco Wholesale from $500.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Buy” and a consensus price target of $447.14.
In other Costco Wholesale news, VP Joseph P. Portera sold 3,287 shares of the company’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $445.50, for a total value of $1,464,358.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $396.14, for a total transaction of $1,584,560.00. Following the completion of the transaction, the vice president now owns 26,625 shares in the company, valued at $10,547,227.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,287 shares of company stock worth $4,686,519 over the last quarter. 0.22% of the stock is currently owned by insiders.
Costco Wholesale 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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