Pacific Wealth Strategies Group Inc. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,006 shares of the retailer’s stock after buying an additional 133 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Costco Wholesale were worth $901,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in COST. Baillie Gifford & Co. bought a new position in Costco Wholesale during the second quarter valued at about $31,000. KB Financial Partners LLC bought a new position in Costco Wholesale during the first quarter valued at about $35,000. West Financial Advisors LLC raised its holdings in Costco Wholesale by 100.0% during the second quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock valued at $40,000 after buying an additional 50 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in Costco Wholesale during the second quarter valued at about $35,000. Finally, PNC Managed Account Solutions Inc. bought a new position in Costco Wholesale during the second quarter valued at about $42,000. Institutional investors and hedge funds own 66.87% of the company’s stock.
Several research firms have weighed in on COST. Stifel Nicolaus raised their target price on Costco Wholesale from $475.00 to $515.00 and gave the company a “buy” rating in a report on Monday, November 1st. Cowen raised their price target on Costco Wholesale from $440.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, October 7th. Evercore ISI raised their price target on Costco Wholesale from $480.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. Wells Fargo & Company lifted their target price on Costco Wholesale from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. Finally, Robert W. Baird lifted their price objective on Costco Wholesale from $520.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, November 3rd. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $496.23.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.57 by $0.33. The business had revenue of $61.44 billion for the quarter, compared to analyst estimates of $61.45 billion. Costco Wholesale had a net margin of 2.56% and a return on equity of 29.62%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.13 EPS. Analysts expect that Costco Wholesale Co. will post 12.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, October 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.04%.
Costco Wholesale Company Profile
Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s 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.
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